An intentional misrepresentation of important facts or failure to disclose important facts, causing the other party to rely and change their position to their detriment.
Elements of business fraud:
- False representation of fact made by a person or corporation
- Knowledge that the representation was false when it was made
- An intention to get or induce the plaintiff to act or refrain from acting in reliance on the representation
- Damage occurred to the plaintiff as a result of the reliance
Consumer fraud occurs when, in the context of a business transaction, false statements of fact are made, the person or corporation making false statements knew that the statements were false when they were made, and that the other party in the transaction relied on the false statements to their detriment.
Examples of consumer fraud:
- Insurance fraud
- Mail fraud
- Charity fraud
- Digital fraud
- Creditor fraud
- Mortgage fraud
- Telemarketing fraud
- Investment fraud
- Disaster fraud
- Identity theft
Unfortunately, fraud has become common in today’s culture. The media reports identity theft, credit card fraud, investment scams, etc. nearly every day.
If you need strong courtroom advocacy in a financial or investment dispute, we are your team. Please contact us today to schedule a free consultation with one of our experienced trial attorneys.
Stop Fraud Colorado – http://www.stopfraudcolorado.gov/