fraud

(redirected from swindling)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.
Related to swindling: vindication

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 ?
criminal group was hiding in Taiwan, while most of the spots for swindling and
On July 10, the police served fresh arrest warrants on the four for allegedly swindling four corporate pension funds of around 3 billion yen between September 2010 and October 2011.
Swindling is a big part of Willamette Valley's success.
Baldridge is accused of swindling Pruitt out of $319,000 by pretending she was going to leave her husband for him, authorities said.
Matsuo, 56, has now entered guilty pleas to all five charges against him, bringing to 506 million yen the amount he has admitted swindling from the state.
The raiding team has also recovered swindling boards, mobile phones, arrows, Rs 32000 cash from their possession and sent them behind the bars for further investigation.
Six years for swindling a quarter of a million from an insurance company when road killers, child molesters and the like get away with a fine or just a few months' jail.
Swindling money using bank transfer systems has been on the rise in Japan, with the number of cases coming to 17,900 in 2007 alone and some 25.
LANCASTER - A Lancaster attorney removed himself from a swindling case after his investigator from Santa Clarita was arrested on suspicion of trying to sway the victim, an 88-year-old man.
Police sent to prosecutors Wednesday former Foreign Ministry logistics chief Katsutoshi Matsuo on suspicion of swindling the government out of about 28 million yen.
A CONWOMAN jailed for swindling a widower out of pounds 250,000 broke the heart of the secret daughter she abandoned as a baby.
LAHORE -- A two-member bench of the Supreme Court on Tuesday rejected bail application of a woman accused of swindling money from people on the pretext of sending them abroad.