Financial crimes are considered rather serious, as they can cause significant harm to individuals and companies when committed against them. In many cases, an act of fraud involves intentional acts of deception in order to obtain significant monetary gain. However, a charge of fraud could result even if the amount in question is not large. Thus, considering one’s criminal defense options when accused of the criminal act of fraud in Texas and elsewhere is imperative.
When a person is facing allegations of fraud, this crime must be proved beyond a reasonable doubt. Thus, the elements of this crime must be proven. Generally, this means that the accused purposefully misrepresented a material fact, they had knowledge that it was false, the victim of the crime justifiably relies on the misrepresentation made by the accused and the victim suffers actual loss as a result.
Fraud is a broad crime and could include criminal acts such as identity theft, insurance fraud, mail fraud, credit card fraud, securities fraud, telemarketing fraud, wire fraud, bankruptcy fraud and tax evasion. No matter the type of fraud one is accused of, it is important to understand not only the elements of the crime but also the evidence used against him or her. This could help with the development of a strong criminal defense.
Being accused of fraud can be a very emotional and taxing situation. Nonetheless, defendants should be fully aware of the process, the evidence used against them and what defense options are available to them. This could ultimately aid the accused in reducing or even dismissing the charges against them.