Corporate fraud is a criminal offence that refers to the unethical or illegal activities committed by a company or its employees. This type of fraud gives a financial advantage to the perpetrating company or individual (employee). Corporate fraud schemes and cases are often complex and difficult to identify and can have adverse implications on the perpetrator or organisation.
If you have been accused of committing corporate fraud, get in touch with a criminal lawyer to help with your defence. They have experience with white collar crime and corporate fraud and the best way to proceed with your case.
Read on to learn more about corporate fraud, the different types and how to get legal help.
Types of corporate fraud
Corporate fraud can be conducted in various ways, including:
1. Accounting
This type of fraud occurs when a company doctors/alters its account documents to present an image of high profits and revenue. It is used to conceal declining sales, huge losses or hefty expenses. When a company falsifies its financial information, it can easily attract investors and potential buyers or prevent its public valuation or stock from dropping.
2. Tax
This type of fraud occurs when a corporation withholds certain information about the company to evade paying tax. The company may utilise loopholes that result in tax evasion.
3. Assets
Asset misappropriation is a common form of corporate fraud. It occurs when a company takes advantage of confidential information or access to sensitive assets and leverages them for gain. The company hides the fraud behind legitimate business exchanges and practices, disguising the illegal activity.
4. Products/services
This fraud occurs when an organisation misrepresents or disguises a product/service to hide its defects or flaws. Instead of investing in redesigning, refurbishing or repairing the product, the company attempts to save money by deflecting or disguising the issues.
Getting legal help
If you are being accused of any of these types of frauds, hire an experienced criminal lawyer for your matter. Criminal solicitors have the knowledge and expertise required to deal with corporate fraud cases, whether minor, major or high-value. They can defend the allegations against you to ensure you get the best possible outcome while minimising the impact on you and your business.
Criminal lawyers can guide, protect and advice you in a commercial activities investigation. They can defend your assets from seizure, manage serious fraud investigations and mount a defence against prosecution. Criminal lawyers can help with:
• Tax evasion
• Corruption and bribery
• Insider dealing
• False accounting
• Fraud and dishonesty
Get in touch
If you are looking for Sydney criminal lawyers for any type of fraud, Lamont Law is an exceptional choice. Get in touch with them today for legal counsel, advice and representation.