FRAUD

What is Fraud?

A broad strokes definition, fraud is a deliberate misrepresentation which causes another person to suffer damages, usually monetary losses.

Most people consider the act of lying to be fraud, but in a legal sense lying is only one small element of actual fraud. A salesman may lie about his name, eye color, place of birth and family, but as long as he remains truthful about the product he sells, he will not be found guilty of fraud.

There must be a deliberate misrepresentation of the product's or value and actual monetary damages must occur.

There are also other types of conduct that amounts to other fraudulent means. They are:

the use of corporate funds for personal purposes;

the non-disclosure of material facts;

exploiting the weakness of another;

unauthorized diversion of funds; and

unauthorized arrogation of funds or property.

issue of corporate assets;

breach of trust, quasi-trust or confidence.

These types of conduct do not exist as separate and distinct categories.

For example conduct which amounts to an unauthosrized diversion of funds can also, in some circumstances, amount to a breach of trust. Similarly, conduct which amount to a breach of trust or quasi-trust can also, in some circumstances, amount to the commission of another offence.

Deception which amounts to fraud, comes in many forms. People need to be well informed in many areas in order to avoid being deceived.

Deceit constitute of the following:

The suggestion, as a fact, of that which is not true, by one who does not believe it to be true;

The assertion, as a fact, of that which is not true, by one who has no reasonable ground for believing it to be true;

The suppression of a fact, by one who is bound to disclose it, or who gives information of other facts which are likely to mislead for want of communication of that fact; or

A promise, made without any intention of performing it.

On a bigger scale, there are major scams set up in order to steal money from people, such as, the Federal Income Tax which most people consider it to be a fraud.

In the USA, members of the Tax Honesty Movement, verily believe that the IRS and the federal reserve have defrauded and continue to defraud citizens of their livelihood.

Since the system is different in the USA, from the system in Canada, wherein the people of Canada are still under the laws of the Monarch, those in the USA fighting to prove that the Federal Income Tax is fraud, have made some strides to expose the deception.

In fact, writer, director, producer (late) Aaron Russo, made a film/documentary titled America... From Freedom to Fascism.

The film is an expose of the US Federal Reserve Central Bank and the Internal Revenue Service, and proves conclusively there is no law requiring an American citizen to pay a direct unapportioned Tax on their labour. The film is said to be very provocative.

Click Freedom to Fascism

In the meantime, whereas income taxes may indeed be one of the biggest fraud perpetrated on citizens, the Central Banks have done worst, as it is the banks who are the culprit of all frauds, as apparent with the financial bailouts in 2008 and 2009, by almost all governments accross teh Globe.

Bankruptcy Fraud, Mortgage and Real Estate Fraud, Insurance Fraud and even Money Laundering is all linked to banks.

These sort of fraud are performed by those in a position of trust, such as and not limited to, bankers, brokers, accountants, lawyers, real estate agents, notaries and even judges.

Due to these major fraud schemes perpetrated on people, the standard of living for the last 40 years has gone down rapidly, to the point where individual debts have become the norm in North America, simply to maintain a sort of lifestyle comparable to the Queen, so to speak.

This has occured because of people having been deceived into believing that they can have it all, by simply getting into debts.

Frederick W. Robertson said: there are three things in the world that deserve no mercy;

hypocrisy;

fraud; and

tyranny