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Types of Fraud Crimes

Types of Fraud Cases

Fraud is defined as a wrongful or criminal deception intended to result in financial or personal gain. Fraud is a serious crime that can result in multiple penalties including jail time. There are several different crimes that are considered fraud, each carrying a different penalty under the law. Being aware of what is considered fraud could potentially help you to avoid, or fight, serious charges in the future.


Healthcare Fraud

Medical services related fraud can cost patients and healthcare providers huge sums of money if it is not discovered quickly. Health care providers can commit fraud by billing patients or their insurance carriers for services that were never provided. They can also commit double billing by billing for the same service multiple times. Additionally, medical service providers can charge patients a higher price for additional services that they never received.


Identity swapping is another form of healthcare fraud that occurs when one person allows another person to use their medical insurance and identity theft in health insurance occurs when a person uses another individual's health insurance without their permission. People can also commit healthcare fraud by impersonating healthcare professionals and billing for health-related services or equipment without having a valid license.


Credit Card Fraud

Credit card fraud occurs when credit card information is obtained and/or used without the authorization or knowledge of the account holder. Credit card information can be stolen through the use of unsecured websites or as a result of identity theft. It can also involve the use of debit cards or credit cards through unauthorized recurring payment portals.


Tax Fraud

Tax fraud is a type of fraud that takes place when a person does things to manipulate their taxes illegally. This includes claiming deductions that are false or claiming personal expenses inaccurately as business expenses. A person committing tax fraud might also fail to report certain income or falsify the information on their tax return to avoid paying the Internal Revenue Service.


Stolen Identity Refund Fraud

This tax related fraud is a form of identity theft that can affect taxpayers negatively. When this occurs an individual uses stolen identity information such as the name, birthdate and social security number of another person and files a tax return in their name. They then receive a refund fraudulently creating serious repercussions for their victim who often discovers the crime when they attempt to file their own taxes.


Corporate Fraud

Corporate fraud occurs when a company, or individual acting as an employee of the company, commits deceptive or unethical actions. Corporate fraud is complicated and can require a team of forensic accountants to detect. Some fraud schemes involving corporations can inflate the company’s value by increasing its apparent profits.

Mutual Hedge Fund Fraud

Mutual hedge fund fraud takes place when a broker places their own interests above the interests of their clients ultimately violating their fiduciary duty. Acts of mutual hedge fund fraud may occur for a variety of reasons, but usually they take place when a broker seeks to increase their commissions or fees. Fraud can occur when a broker pushes class shares onto investors without thoroughly explaining benefits, fees, and costs associated with the shares. Mutual hedge fund fraud also takes place when a broker receives commissions from a mutual fund company and does not disclose the potential conflict of interest to their clients.


Securities and Commodities Fraud

Securities and commodities fraud occurs when a person or organization misrepresents information so that they can make a profit in the financial market. This type of fraud can involve withholding crucial information, acting upon insider information, or providing false information. Financial markets are manipulated to benefit the perpetrator at the expense of the unknowing investors.


Contact Us For Zealous Legal Representation

If you or someone you care about has been charged with a fraud related crime do not hesitate to find them the quality legal representation that they need. Our law office has years of experience fighting fraud charges and are prepared to provide you with the aid that you deserve. Contact us today to schedule an initial consultation so that we can begin working on your case immediately.

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