What Is The Penalty For Fraud?


9 Answers

face book Profile
face book answered
Prison for about 3-5 years depends on how serious the case is.
abdul rehman Profile
abdul rehman answered
The term fraud includes all acts committed by a party to induce the other party to enter into a contract with an intention to device. When a party to the contract makes a false statement intentionally, he would be liable for fraud. But if a person honestly believes his statement to be true, he cannot be held liable fraud. When the party to the contract conceals materials facts, essential to the contract, which he is under an obligation to disclose to the other party before entering into a contract, he is guilty of fraud. The seller is bound to disclose to the buyer about the faults in the goods he is selling.

When a person while making a contract has no intention to perform his part of promise, it is considered as an act to defraud other. Act fitted to deceive means any act, which is done with the intention of committing fraud. This is general clause and includes all cases, which are not covered by other clauses. A person can adopt different methods to cheat the other party. It is therefore, difficult to explain all the methods under the definition of fraud. However, according to this sub-section all the unfair ways, which a man can adopt to deceive the other party, will be considered fraud.
Anonymous Profile
Anonymous answered
thanked the writer.
Anonymous commented
Does anyone know what a realistic penalty would be for a company owner knowingly withholding 50k or so from a sales representative? And the sales rep busts the owner and does appropriate research to provide accurate documentation?? We're talking about the owner keeping commission for several hundred sales orders produced by the rep over about a 5 yr period...
Anonymous commented
Is this an online legal chatroom? Not sure if my question was posted? Did anyone see the question about the company owner committing fraud??
~ Kelly ~ Profile
~ Kelly ~ answered
It would be jail
Anonymous Profile
Anonymous answered
What would realistic punishment be for fraud if a company owner knowingly and fraudulently withheld 50k in commission from one of his sales representative?
Anonymous Profile
Anonymous answered
If a person activates a credit card  that don't belong to them and uses it and keeps the bills from going to the cardholders house,They make payments on it but don't pay it off.What is the penalty for fraud in New Hampshire?
lisa anaskevich Profile
lisa anaskevich answered
I had someone obtain my checking account info, I found out person out of state...but bank can only tell me where money went to and name...no other information found...do you think they would ever find the person (good thing is they reimbursed my money)
Steven Vakula Profile
Steven Vakula answered
It depends on the type of fraud. Fraud however brings in the RICO statute which is let's seize all the property as Racketing and Corrupt practices will triple the fines and you loose everything!

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