Fraud Topics

• marriage fraud
• immigration purposes
• immigration benefits
• legal jurisdiction
• cash proceeds
• journalistic fraud
• innocent party
• party nominee
• immigration fraud
• annulment
• falsification
• personal gain
• immigration marriage
• misrepresentations
• conspirators
• civil law
• hoaxes
• archaeology
• appraisals
• credit history

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Fraud, Fraud

The specific legal definition varies by legal jurisdiction. Fraud is a crime, and is also a civil law violation.Many hoaxes are fraudulent, although those not made for personal gain are not technically frauds. Defrauding people of money is presumably the most common type of fraud, but there have also been many fraudulent "discoveries" in art, archaeology, and science.

These frauds include numerous gross misrepresentations including: income is overstated, assets are overstated, collateral is overstated, the length of employment is overstated or fictitious employment is reported, and employment is backstopped by conspirators. The borrower's debts are not fully disclosed, nor is the borrower's credit history, which is often altered. Often, the borrower assumes the identity of another person (straw buyer). The borrower states he intends to use the property for occupancy when he/she intends to use the property for rental income, or is purchasing the property for another party (nominee). Appraisals almost always list the property as owner-occupied. Down payments do not exist or are borrowed and disguised with a fraudulent gift letter. The property value is inflated (faulty appraisal) to increase the sales value to make up for no down payment and to generate cash proceeds in fraud for profit.

Marriage Fraud is usually associated with obtaining immigration benefits. In the United States, marriage fraud for immigration purposes is punishable under INA 204(c)(1) and the Immigration Marriage Fraud Amendments of 1986.

The innocent party may file a lawsuit and/or annulment of the marriage. In a bilateral fraud, both parties are aware of it and both parties are subject to criminal penalties.

Journalistic fraud implies a similar notion, the falsification of journalistic findings.

Source: Wikipedia > Fraud