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Company Prosecutions for Fraud

Fraud is has a wide ranging definition but if you feel you, your firm or your company has been defrauded then the there is a strong likelihood that that fraud will be a criminal fraud as well as a civil fraud.

Your Tough Reputation
Where competitors or employees or anybody with whom you do service has shown dishonesty in their dealings with you, there is a huge satisfaction in getting the perpetrators before a criminal court.
The threat of their actions gaining them a criminal record will stop most people in their tracks where they may laugh at the threat of civil proceedings. Having to pay out money in damages is one thing. Losing your good name in a criminal court, the publicity in their industry and even the possibility of a prison sentence, however unlikely, is quite a different ball game to most people.
Think about your reputation then for playing ‘hard-ball’ and the effect it would have on those who are thinking you are a soft touch…

Your employees
Your employees and ex-employees can cause untold damage to your enterprise in fraudulent acts for gain, or even just for pure malice or revenge or imagined slights.
This may cost you and your company very dear indeed and may involve a criminal act.

The Financial Sector
If you are in the financial sector you may have granted a secured loan which turns out to be worthless.
This may cost you many hundreds of thousands of pounds and may involve a criminal act.

The Insurance Sector
If you are in the insurance sector you will know that the term uberrimae fidei, the Latin phrase meaning “of utmost good faith” should describe how your customers should supply the information for your underwriters to calculate risk and therefore the insurance premium.
Is it enough that you refuse a claim when you find out they massively defrauded you when completing the proposal form?
This may involve a criminal act
All of the above examples and many more may be able to be dealt with quickly, cheaply and satisfyingly by a criminal prosecution.

CRIMINAL REMEDIES ON A SUCCESSFUL PROSECUTION

Criminal Penalties
Depending on the seriousness of the fraud or other crime, the courts have full powers to impose a fine, a community penalty or a prison sentence.
And this creates a Criminal Record for the Defendant!

Confiscation
The criminal courts can order that items used in any fraud can be confiscated under threat of a Contempt of Court criminal charge if not heeded.

Compensation
Similarly, if you can quantify your loss easily the criminal courts can make a compensation order as well as a criminal penalty.
If such a compensation order is deliberately not paid, and the defendant clearly has assets, they can go to prison - such are the greater powers of the criminal courts compared to the civil courts.