You can never be too careful these days, especially if you are a businessman. For example, you noticed that your purchasing manager is living well above his pay grade. He has designer clothes and a luxury car. You begin to suspect as you notice purchase order discrepancies in your business. You ask him about it, but he becomes defensive and dodges your question.
If you are in a similar situation, you might be a victim of fraud. And if so, then it would be best to hire a fraud attorney.
Your Fraud Attorney’s Role
When it comes to fraud investigation, you need to put your best foot forward and make the proper decisions, or else your opponent might get the upper hand, which can lead to your case going down the drain. That is why it’s essential to hire a fraud attorney.
Fraud Attorneys Will Determine If You Have a Case
If you want to file a fraud case, there are some things you need to prove first. After all, fraud is a big accusation. So you’ll need to back up your claim. The first thing you must do is prove that another party is guilty of lying. Specifically, it must be a material misstatement of figures and facts. Plus, you must prove that they knew about these false statements and that they used them on you, which you thought to be true.
If you have those pieces of evidence with you, then you might have a case in your hands. But you need to ensure that all evidence can be used for a case, and without the aid of a fraud attorney by your side, you might have a hard time making a solid determination.
Fraud Attorneys Will Classify the Type of Fraud
There can be different types of fraud. But the ones below are what courts will hear most frequently:
Business Fraud: This type of fraud includes contracts that the other party has no plans on fulfilling, falsely obtained credits, and bad checks that have passed.
Securities and Investment Fraud: For example, you meet with a stockbroker who tells you about a stock that you have never heard of before. He promises you that it is the next big thing and gives you false information about it. Because you trust him, you buy the stock. But you instead end up with significant financial losses because of the false information.
Ponzi schemes fall into this category. But, it also includes embezzlement, insider trading, and falsifying financial statements.
While these are typical frauds you will encounter, there may be other variables that your case may have. Your fraud attorney will determine what type of fraud you have fallen victim to and create a strategy for your case.
Fraud Attorneys Will Protect Your Investigation
One of the first things you might do when you suspect fraudulent acts in your business is to call your accountant so you can trace how your money is flowing. That would be the logical thing to do. But if you plan to take someone to court or want the police to get involved, call your fraud attorney first. So they will be the ones to call on the experts to conduct the investigation.
That way, anything the expert discovers will have some protection because of the work product doctrine. Of course, you will have to reveal your investigator’s findings when litigation begins. But the advantage to the partial immunity is that whatever plans, strategies, opinions, and beliefs your investigator has will not be revealed unless your attorney says so.
Fraud Attorneys Will Protect Sensitive Information
Whether you will go to court or not, your investigator will likely turn every stone in your business, analyze the data, develop a theory and confirm it.
But a fraud investigation can also reveal sensitive information about your business. For example, your investigator might say that your fraud protection policies are out of date or too lenient. This can hurt your reputation.
But since your attorney hired the investigator, those opinions will not reach the court’s ears.
Nobody wants to experience fraud, especially if you are a businessman. That is why if you think you have become a victim of it, call a fraud attorney immediately. The process and the laws can be complicated. So having a fraud attorney by your side is your best bet if you want to have the best possible outcome.