FRAUD LAWYER TORONTO

Fraud is a serious crime that can result in significant penalties. Fraud covers a broad spectrum of behavior and actions under Canadian law. However, the one thing most fraud cases have in common is that they are prosecuted aggressively. Fraud is not considered a victimless crime. Harsh punishment may await an individual following a fraud conviction. When you are ready to restart your life and move forward, your reputation could be significantly altered.

If you face criminal fraud charges in Toronto, you need to secure experienced legal representation immediately. You have rights. A lawyer with Posner Craig Stein, LLP, can help you protect your rights and fight the charges against you.

At Posner Craig Stein, LLP, our legal team has in-depth knowledge of the Canadian legal system. We can review your situation and craft a powerful defense strategy. For a confidential consultation, contact our Toronto office today. Our legal team is prepared to fight for you.

Fraud can encompass a variety of behaviours and is considered a significant criminal offence. Generally, fraud is the intentional act of deceiving someone to gain something of value. The legal definition of fraud is outlined in the Criminal Code of Canada. It defines fraud as the willful act of obtaining property, money, or something of value by deceit, falsehoods, or other fraudulent means. Even if an individual’s actions do not result in a loss to someone, if the individual intended to defraud a person or organization, they can still be charged with the criminal offence of fraud.

Legally, fraud is broken down into two separate categories:

• Fraud under $5,000 in value
• Fraud over $5,000 in value

Although both categories have similar fraudulent elements, they carry different penalties, which can significantly alter an individual’s life if they’re convicted.

Fraud is becoming increasingly common in industries like banking, commerce, and real estate. However, fraud can occur in almost any sector. It can impact large companies or individuals conducting business with one another. Canadian authorities take fraud complaints seriously and will aggressively investigate fraudulent schemes. If you find yourself on the wrong end of a fraud investigation, it can upend your life and lead to significant penalties and repercussions. A Toronto fraud lawyer can help protect your rights and sort through your legal options.

There are many different types of fraud, including:

• Tax Fraud – Tax fraud occurs when an individual or organization intentionally falsifies information on a tax return to gain a refund or tax benefit. Tax fraud may involve underreporting taxable income or underreporting workforce numbers.
• White-Collar Fraud – White-collar fraud is a term used for fraud committed by individuals, businesses, or government officials for sheer financial gain with no threat of force or violence.
• Insurance Fraud – Insurance fraud involves willfully making false statements or filing false claims to collect illegitimate financial benefits.
• Investment Fraud – In investment fraud schemes, individuals will attempt to entice people into giving them money for investment purposes, often by providing false or misleading information about the viability of the commodity.
• Ponzi Schemes – Ponzi schemes are similar to investment fraud. In a Ponzi scheme, an individual lures an investor with promises of low-risk, high-reward yields. When a person invests their money, that money “pays” previous investors, convincing them their investment is genuine. However, people at the bottom rarely see a return. Money is seldom invested, only filtered to prior investors.
• Real Estate Fraud – Real estate fraud involves willfully misleading individuals concerning selling, purchasing, financing, or renting a home or property.
• Mortgage Fraud – Mortgage fraud occurs when someone intentionally misrepresents themselves or their financial position to secure a mortgage or loan.
• Loan Fraud – Using a stolen or fraudulent identity to secure a loan is one form of load fraud.
• Romance Fraud – A user creates a fake profile with the goal of fostering a relationship with an individual, then scamming that person out of money or valuables.
• Inheritance Fraud– Scammers posing as lawyers or estate officials can defraud grieving family members by asking for money to process an inheritance.
• Phone Scams – Phone scams involve an individual calling other people and asking for money by impersonating officials like law enforcement. Scams also involve fraudulently claiming a person won a prize, and they need to authenticate the winner’s identity by obtaining sensitive information.
• Mail Fraud – Scams utilizing the mail can include foreign money offers, lottery scams, and inheritance fraud.
• Franchise Fraud – Franchisors may misrepresent profits, unlawfully terminate franchise agreements, or falsify product information to entice new franchisees into an already developed franchise for the franchisor’s financial gain.
• Credit or Debit Card Fraud – This form of fraud involves illegally obtaining a card or the card’s security information and using it to withdraw money or shop.
• Charity Fraud – This fraud involves using fake or fraudulent fundraisers to bilk individuals out of money meant for charitable purposes by posing as a charitable organization.
• Computer Fraud – The willful use of a computer to obtain unauthorized data, information, and money can be computer fraud.
• Employer-Employee Fraud – This is fraud in the workplace perpetrated for financial gain. Methods used could be breach of trust, trade secret theft, or paycheck theft.
• Embezzlement – This fraud is a white-collar crime where an individual entrusted with money or assets uses these assets for unauthorized purposes.
• Insider Trading – This fraud occurs when someone uses confidential information not publicly available to make trades or investments.
• Advance Fee Loan Schemes – Asking individuals for an upfront payment in return for a loan or credit card, generally through phone calls or text.
• Breach of Trust – This fraud occurs when a person takes advantage of their position to defraud an individual to whom they own a duty of confidence.
• Cross-Border Fraud – This fraud involves fraudulent activities that cross Canadian borders whereby the fraudster obtains money from people outside their country.
• Misappropriation of Funds – This fraud is the intentional misuse or theft of money entrusted to an individual or organization for personal gain.

Government Fraud – This significant offence involves willful attempts to defraud the government of money or assets.

Fraudulent activities involving money or assets valued over $5,000 is an indictable criminal offence. Penalties can include:

• Up to 14 years in jail

In fraud cases that exceed $1,000,000, a mandatory minimum jail sentence of two years can be imposed. A fraud conviction can also hurt your personal and professional relationships, making it much more challenging to secure work and housing after serving your sentence. The damage to your reputation can be significant. An experienced lawyer can help you fight the charges against you and advise you on your legal options.

If convicted of fraudulent activities with a monetary value of under $5,000, an individual may face penalties including:

• Up to 2 years in jail

Fraud under $5,000 is a hybrid offence, meaning the Crown can proceed by indictment or summary conviction. As a summary conviction, fraud under $5,000 can result in a maximum of 6 months in jail and fines up to $2,000. Most lesser fraud violations are treated as summary offences.

Fraud charges are not taken lightly by the Crown. If you are facing criminal offences related to fraudulent activities, you must seek the help of a knowledgeable criminal law attorney. At Posner Craig Stein, LLP, we will work to craft a dynamic defense strategy that offers you the best opportunity of obtaining a favourable outcome for your case.

You deserve effective legal representation. To confidentially discuss your case, contact our Toronto office today. We have experience navigating complex fraud cases and will strive to help you maintain your reputation.