Business fraud is, very simply, fraud in any business activity that resorts to deceitful practices to cause economic injury. Business fraud and consumer fraud are very closely related. The legal definition of consumer fraud is as follows:
"Consumer fraud occurs when, in the context of a business transaction, false statements of fact are made, the person making false statements knew that the statements were false when they were made and that the other party in the transaction relied on the false statements to their detriment."
The elements of business fraud are:
Customers who purchase products or services are potentially at risk for fraud, yet the most financially savvy consumer can unknowingly fall victim to certain incidents. Fraud can occur in various ways, from overpaying for services or buying a vehicle that turns out to be defective to a corporation that does not shield consumers' identities, leaving them to fall victim to a data breach. Braving the stresses of a competitive marketplace, a number of companies take dishonest actions to supply themselves with a financial edge while disadvantaging many customers.
Business and consumer fraud come in many forms: Credit card fraud, Medicare scams, mortgage schemes, identity theft, bogus lotteries, fake charity scams, insurance fraud, deceptive sales tactics, and lies about products are all common. The financial loss in any of these situations can be devastating, especially for the elderly. If you have fallen victim to consumer or business fraud, Contact Us today to seek the help you deserve.
While older Americans with disposable income are frequent targets of scam artists, even the savviest customer can become consumer and business fraud victims. If you've suffered a financial or personal loss because of an illegitimate, unfair, false, deceptive, or misleading business practice—whether online, in-person or over the phone—consider talking with one of our experienced consumer and business fraud attorneys at The Cochran Firm.
Sadly, business and consumer fraud have become an epidemic in our society. Not a day goes by that we don't hear something about identity theft, credit card numbers being stolen, investors being defrauded, CEO's being accused of embezzling, and average Joe's being cheated at the local car dealership. One of the most shameful types of consumer fraud is the one that steals money from our retired Americans, living on a fixed income for which they have planned and saved for years, if not decades, or even a lifetime.
If you believe you have been the victim of business or consumer fraud, The Cochran Firm attorneys are available to discuss your legal options. Corporate wrongdoing against consumers appears in many schemes. Companies may encroach on the rights of consumers through financing and insurance scams, deceptive advertising practices, charging for services never provided, unconscionable pricing, defective or flawed products, and price-fixing agreements. Dishonest corporations also can overcharge each customer only a small amount, hindering serious complaints but adding up to large amounts of undeserved money.
The Cochran Firm understands that often-voiceless customers suffer from corporate wrongdoing and have limited power to hold businesses responsible for their actions. Following this understanding, our firm attorneys confront fraudulent practices that the consumer alone cannot effectively dispute. We prioritize consumers' concerns, collecting complaints against suspected companies, and explore each avenue for prosecution.
The experienced attorneys at The Cochran Firm fight against deceptive, misleading, unfair, and secretive practices corporations use to defraud consumers. If you have been harmed economically by consumer fraud, there are legal actions to take. Our consumer fraud attorneys at The Cochran Firm have the resources and expertise to fight your case and win.
Contact Us today to discuss a possible lawsuit and receive the help you need to recover earnings to which you may be entitled.