Chicago business owners are often involved in disputes, but when fraud is the problem, aggressive legal action is crucial. If your business has been harmed by the deceptive or fraudulent practices of another party, you need an experienced business fraud attorney at your side.
At Vaziri Law LLC, we represent small and midsize businesses in various industries in fraud claims throughout the Chicago area. We have extensive experience prosecuting court and arbitration proceedings and will leverage our skills and resources to protect your interests, whether through negotiation or litigation. Contact our office today to schedule your initial consultation with a business law attorney.
What is considered business fraud in Chicago?
Fraud is generally defined as any deceptive acts, omissions, or concealments involving a breach of trust that results in damage to a business. Whether fraud has occurred depends on the facts of the case. Ultimately, a number of factors must be considered, such as the specific details and nature of the fraud or misrepresentation and the relationship of the parties involved.
In any event, to have a valid claim, the plaintiff must generally be able to prove that:
- The defendant made a material misrepresentation of fact for the purpose of inducing reliance by the deceived party (e.g. agreeing to the terms of a contract), and
- The misrepresentation caused harm to the plaintiff (e.g. financial losses)
The misrepresentation might involve the defendant’s agreement to pay for a good or service, the condition of a property for sale, the financial projections of an investment, or any other matter significant enough to induce a party to engage in a business transaction with the defendant.
In addition to proving that a fraudulent act occurred, it is necessary to demonstrate that the defendant had the intent to commit fraud. Because proving intent in a civil case can be challenging, it takes a highly skilled business litigation attorney to handle your claim.
Trust Vaziri Law LLC to conduct full and proper discovery, identify and interview witnesses to corroborate the allegations, present compelling evidence, and make persuasive arguments at trial. Above all, we will work strategically to hold the responsible party accountable for fraud and help you recover your damages.
What is misrepresentation in business?
Generally, misrepresentation is a false statement or assertion of a material fact that induces another party to enter into a business transaction. Types of misrepresentation include:
- Negligent misrepresentation occurs when a party makes a careless statement or claim without facts to support it. Because a party seeking to induce another to engage in a business transaction has a duty of care to ensure the accuracy of any representation of fact, the defendant may be liable for damages for negligent misrepresentation.
- Fraudulent misrepresentation occurs when a party knowingly makes an untrue statement or assertion to induce the other party to enter into a business transaction. In this situation, the plaintiff may seek to have an agreement rescinded and recover actual damages resulting from the misrepresentation. Fraudulent misrepresentation differs from fraudulent concealment in that the latter occurs when a party to a contract intentionally omits or conceals a known material fact.
Common Forms of Business Fraud in Chicago
Many types of fraud can result in harm to a business, such as:
- Misrepresentations during a business transaction
- Misappropriation of business assets
- Financial statement fraud
- Payroll fraud
- Tax fraud
By conducting a thorough investigation, collaborating with financial experts, and being prepared for trial, we will work to achieve a positive outcome. While business disputes often settle, we have a demonstrated track record of successfully litigating fraud claims in state and federal court.
Contact Our Chicago Business Fraud Attorneys at Vaziri Law, LLC Today!
Fraud cases can be difficult to prosecute and defend, are fact-driven, and depend on a careful analysis of the evidence. Our business fraud attorney has the skills and resources to represent you in settlement negotiations, arbitration, and litigation. Whether your business has suffered losses as a result of fraud or has been accused of fraud, you need the powerful representation Vaziri Law LLC provides. Contact our office today so we can start working on your case.
Vaziri Law helps residents of Chicago with Business Fraud including those who live in Cook County, Dupage County, Lake County, McHenry County, and Will County.