Fraud
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FRAUD
Fraud, in law, is a general term for any instance in which one party deceives or takes unfair advantage of another. Any means used by one person to deceive. The five most frequent fraud scheme's are diversion of checks received or checks disbursed, misappropriation of investments or other assets, credit card fraud and identity theft, ghost vendors and theft of equipment and supplies. Frauds are either actual or constructive. An actual fraud requires that the act be motivated by the desire to deceive another to his/her harm. A constructive fraud is a presumption of overreaching conduct that arises when a profit is made from a relation of trust. Actual fraud can never be the result of accident or carelessness.
The consequences depend on who the victim is. For example, fraud against experienced business man has worse consequences then dealing with a minor, a lunatic, a simple-minded person, or a drunkard. The consequences also depend on the damage done...