Business Fraud

Fraud is often defined as "gain through misrepresentation". In business, fraud is defined as a deception made for personal gain. In most cases where this involves money, the business fraud is considered a crime and even a civil violation that an experienced Houston Business Fraud Attorney can help you fight. Business law takes much into account when there is fraudulent activity on the part of a person or a company. Fraud can often be seen in the breach of a contract and when there has been intent to misrepresent the goods, products, or services involved in the contract. If a person or company were to make statements about its products that were knowingly false and misrepresented their quality or performance in an effort to sell more to another company or consumer, then the business fraud is evident and a court would take action against the party committing the fraud.

In following with the above example regarding the sale of goods, a contract does not have to be formally in place in order for the misrepresentation to be business fraud. A simple transaction of sale can be a contract and if there are consumers that have been defrauded in that transaction based on statements or claims surrounding the good or service purchased, then the business fraud may be provable in the legal courts. The breaching party may not only have misrepresented facts, but also criteria, such as how the product was produced, with what materials it was manufactured, or where, and any other criteria that the purchaser considered a deciding factor on whether to purchase the product or not.

Business Fraud can be committed in a variety of tactics. Many familiar terms like: bait and switch, false advertising, false billing, investment fraud, securities fraud, health fraud, document forgery, identity theft, and embezzlement; all are criminal forms of business fraud. The remedy for the crime would most likely be based upon the amount of money involved in the fraud and the severity of the fraud or if there was a safety issue involved. While identity theft is one of the fastest growing crimes, the penalties are not very severe.

Business Fraud can be costly to small and large businesses alike, as well as individual consumers. The false representation involved in business fraud can have a detrimental effect on all aspects of a person's life or business. Skilled, qualified, and experienced attorneys at The Pursley Law Firm can help you recover from your business fraud experience.

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