He was found guilty of bank fraud he was the victim of an elaborate fraud he claimed he was a licensed psychologist but he turned out to be a fraud the ufo picture was proved to be a fraud. Business fraud business fraud consists of activities undertaken by an individual or company in a dishonest or illegal manner designed to be advantageous to the perpetrating person or establishment. Fraud a false representation of a matter of fact whether by words or by conduct by false or misleading allegations or by concealment of what should have been disclosed that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury
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