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Fraud Awareness Week

The Association of Certified Fraud Examiners is urging organizations worldwide to participate in International Fraud Awareness Week , November 7-13, 2010 to help cast a spotlight on the problems arising from fraud. This weeklong campaign encourages business leaders and employees to proactively take...

Fraud Claim Knocked Out by Statute of Limitations for Negligence Actions

A Swedish law firm has failed in its effort to sue a director of a former client for "misrepresentation" in Virginia federal court after the court ruled the claim was barred by Virginia's two-year statute of limitations applicable to negligence claims. The law firm had conceded that...

PFGBest: Another Fraud, Another Example Of Weak Auditors and Weak Regulatory Oversight

My latest column @Forbes is about the most recent futures industry fraud case, PFGBest. PFGBest is another reason why the industry's poor business environment, wracked with a crisis of confidence after MF Global, just got much worse. All Fall Down; PFGBest and MF Global Frauds Reveal Weak ...

Send Lawyers, Guns and Money - Some Steps Law Firms Should Consider

One of my favorite lawyer songs is the Warren Zevon classic " Lawyers, Guns and Money ". I was reminded of that song when I sat on a panel on Wednesday with Dan Chapman and Mike Volkov, where we discussed recent enforcement actions and due diligence under the Foreign Corrupt Practices Act ...

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What Are the Elements of Fraud in New Jersey?

In New Jersey, the elements of common-law fraud are: “(1) a material misrepresentation of a presently existing or past fact; (2) knowledge or belief by the defendant of its falsity; (3) an intention that the other person rely on it; (4) reasonable reliance thereon by the other person; and (5) resulting...

Fraud and the Detection of the Sources for Bribery

In a recent White Paper authored by Peter Smith for OFS Portal, entitled “ Procurement and Fraud in the Supply Chain ”, where he examined “fraud linked to procurement and supply chain activities.” Smith focuses on where fraud can occur in the procurement process. From this starting...

Proximate Cause Is Required to Win Your Fraud Claim

To state a cause of action for fraud in Virginia, a plaintiff must plead that there was (1) a false representation of (2) a material fact, (3) made intentionally and knowingly, (4) with intent to mislead, and that the plaintiff (5) reasonably relied on that false representation and (6) that his reliance...