fraud

(redirected from fraudulently)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.
Related to fraudulently: finagler, phony, defrauded

Fraud

Any attempt to deceive another for financial gain. A clear example of fraud is selling a new issue that does not really exist. That is, the company can collect money from investors and, rather than use it to finance operations, pocket the money and do nothing. There are a number of types of fraud. Common types include forgery of documents, false claims in insurance, and filing bankruptcy to avoid debt rather than because of financial hardship.

fraud

Deception carried out for the purpose of achieving personal gain while causing injury to another party. For example, selling a new security issue while intentionally concealing important facts related to the issue is fraud.

fraud

the gaining of financial advantage by a person who deliberately deceives another person or business, by mispresenting himself.

fraud

A deceitful practice. Fraud consists of a misrepresentation of a material fact that is relied upon by another party to his or her detriment.There is no requirement that the misrepresentation be intentional.The thing misrepresented must be a fact; it is very difficult to prove fraud when one fails to fulfill his or her obligations but had good intentions in the beginning.

There are three types of fraud:

1. Intentional fraud. Punitive damages may be assessed for this type of fraud.

2. Negligent fraud. As when one makes a statement recklessly but without any intention to deceive, and someone relies on that statement and is injured when it turns out to be false. One example would be a real estate agent telling a buyer that all appliances are new when, in reality, the agent didn't know but thought they looked new. Depending on the degree of recklessness involved, this type of fraud may or may not support punitive damages.

3. Innocent fraud. As when one takes steps to confirm facts but is perhaps mistaken or given mistaken information, and then relays that information to someone else who relied on it and was injured.

The Statute of Frauds is a rule that says certain contracts must be in writing, including contracts having to do with real estate. It has nothing to do with fraud, per se, except to protect against possible fraud by requiring a writing.

References in periodicals archive ?
Your bank can refuse a refund for an unauthorised payment if they can prove you authorised the payment, you acted fraudulently in relation to the payment, were negligent in protecting access to your accounts or failed to notify the bank within 13 months of the unauthorised payment.
Your bank can refuse a refund for an unauthorised payment if they can prove you authorised the payment or you acted fraudulently in relation to the payment or were negligent in protecting access to your accounts or failed to notify the bank within 13 months of the unauthorised payment.
Manama: A Gulf national who obtained the Kuwaiti citizenship fraudulently by impersonating a dead Kuwaiti and later used his new status to naturalise 11 people has been arrested.
'The oil shipment was fraudulently imported, without the required port load survey report and with inconsistencies in documentation in serious violation of Section 1113 of Republic Act No.
20, 2013, Lopp walked into a branch of the Gulf Winds FCU and fraudulently secured an $8,000 cash advance, according to court documents.
According to the indictment and statements made on the record in court, the defendants were charged with orchestrating and participating in a series of staged accidents and vehicular collisions involving "jump-ins," in which the defendants claimed to be inside affected vehicles in order to fraudulently obtain medical benefits and insurance payouts.
6 in Faulkner County Circuit Court allege Kathy Koone Hall, 48, the former executive director, fraudulently billed the Arkansas Medicaid program for $90,556 between 2012 and 2013.
Newcastle Crown Court heard she has been forced to sell her house in order to repay the money she fraudulently claimed.
The 43-year-old fraudulently claimed more than PS52,000 in VAT repayments from 2007.
A WOMAN who claimed PS140,000 in benefits by fraudulently saying she was wheelchair-bound was caught after she was filmed water-skiing.
* impersonate any person with the intention of voting in that other person's name; or fraudulently do an act that results in the destruction or defacement of any nomination or ballot paper; or
A WOMAN fraudulently claimed more than PS27,000 in benefits despite being financially supported by her live-in partner.