Business Fraud & RICO

Wheat Ridge Business Fraud Attorney

man holding magnifying glass and looking at a contract | Wheat Ridge Business Fraud AttorneyDid you know that over 80% of civil RICO cases are based upon business fraud, such as mail or wire fraud. Business fraud plagues many businesses – from small startups to large corporations. In fact in 2009, a business survey found that 88% of all United States companies had experienced significant losses due to business fraud. In fact, the Association of Certified Fraud Examiners found that business fraud and embezzlement account for at least a 5% loss of revenue each year.

By definition, business fraud is any business activity that uses deceitful practices to cause economic injury. There are a multitude of ways business fraud can occur, from embezzling to identity theft. If you or your business have been the victims of business fraud, then you need an experienced Wheat Ridge business fraud attorney on your side from the very start. Call the Murphy Law Firm for the experienced help that you deserve.

Who is committing Business Fraud?

It is estimated that 80% of all fraudulent business activity can be traced back to employees in one of six departments:

  • Accounting
  • Customer service
  • Purchasing
  • Sales
  • Operations
  • Executive positions

Understanding RICO & Business Fraud

The Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law that was passed in 1970 to combat organized crime that was running rampant in the United States. Examples of criminal activity that is listed under the RICO Act include:

  • Illegal gambling
  • Bribery
  • Money laundering
  • Counterfeiting
  • Embezzlement
  • Trafficking
  • Mail fraud
  • Wire fraud

RICO permits a private individual whose business or property has been damaged by business fraud or racketeering to file a civil lawsuit. RICO cases requires the plaintiff to prove a pattern of racketeering activity. If a pattern can be established, such as multiple fraudulent emails, then the plaintiffs may bring a RICO suit in federal courts. There is also a lower burden of proof for victims of business fraud who are filing a civil claim. Unlike criminal cases, civil cases only require plaintiffs to bring a preponderance of evidence. Those who win RICO civil cases can often recover “treble damages” or three times the amount of money they lost due to the business fraud activity.

Contact Our Wheat Ridge Business Fraud Lawyers

Murphy Law Firm Logo - Construction Dispute Attorney in Wheat RidgeAt the Murphy Law Firm, our Wheat Ridge attorneys are experienced and knowledgeable in all areas of business law in Colorado. If you have been a victim of business fraud and suffered financial losses, we can help. Contact us today for a free initial consultation and review of your case. Call us at 303-536-7000.


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