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Fraud can be defined as either a civil wrong or a criminal act. For civil fraud, a government agency or person or entity harmed by fraud may bring litigation to stop the fraud, seek monetary damages, or both. For criminal fraud, a person may be prosecuted for the fraud and potentially face fines, incarceration, or both.
In law, fraud is an intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law or criminal law, or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. [1]
The civil fine is not considered to be a criminal punishment, because it is primarily sought in order to compensate the state for harm done to it, rather than to punish the wrongful conduct. As such, a civil penalty, in itself, will not carry a punishment of imprisonment or other legal penalties. [1] [better source needed]
There is some overlap between criminal law and tort. For example, in English law an assault is both a crime and a tort (a form of trespass to the person). A tort allows a person to obtain a remedy that serves their own purposes (for example, the payment of damages or the obtaining of injunctive relief). Criminal actions on the other hand are ...
Violations generally include both crimes and civil wrongs. Some acts, such as fraud, can violate civil and criminal laws. In law, a wrong can be a legal injury, which is any damage resulting from a violation of a legal right. A legal wrong can also imply being contrary to the principles of justice or law.
Actual fraud typically involves a debtor who as part of an asset protection scheme donates his assets, usually to an "insider", and leaves himself nothing to pay his creditors. Constructive fraud does not relate to fraudulent intent, but rather to the underlying economics of the transaction, if it took place for less than reasonably equivalent ...
Engoron then ruled that Trump and all of the other remaining defendants were indeed covered by this agreement, that they submitted fraudulent financial statements more recently than July 13, 2014 ...
In tort law the legal elements necessary to establish a civil conspiracy are substantially the same as for establishing a criminal conspiracy, i.e. there is an agreement between two or more natural persons to break the law at some time in the future or to achieve a lawful aim by unlawful means.