Having trust in your business partners, contractors, and employees is a vital part of the business. Sadly, it is also important not to be too trusting. Fraud is committed all too often and in many different contexts. If you hope to run a successful business, you need a clear understanding of its legal definition. Not only will this help you avoid being defrauded; it can also help you avoid any accusations committing it.
At the offices of LaMarca Law Group, P.C., we are ready to help you prosecute a fraudulent party or defend your business’s good name. To speak with one of our experienced Iowa business fraud attorneys, call us at (515) 705-0233.
The Components of Fraud
When one party makes false claims to the detriment of another person or entity, the victim can file a claim to receive compensation for his, her, or her losses. However, even cases that seem clear-cut are not always easy to prove. In order to have the defendant convicted of fraud, the plaintiff must prove all of the following:
- The defendant made a statement that was supposed to be factual.
- The statement was actually false at the time it was made.
- The defendant knew the statement was either false or unverified when it was made.
- The defendant knew the plaintiff’s actions would be fully or partially based on the statement.
- The plaintiff suffered some form of economic or physical loss due to acting on the statement.
Being a victim of fraud or being accused of it can both cost your business a good deal of money. That is why the support of a knowledgeable Iowa business fraud lawyer is very important.
Your Iowa Lawyers, LaMarca Law Group, P.C., offer informed guidance and skilled legal representation to a variety of business clients. To discuss your case with one of our Iowa business lawyers, contact us at (515) 705-0233.