What is Fraud ?
Fraud is a criminal offence under s.380 of the Criminal Code. This section of the code states that anyone who, by deceit, falsehood, or other fraudulent means defrauds the public or any person is guilty of an offence.
The maximum penalty for fraud is fourteen years’ imprisonment.
What You Should Know
There are various types of offences surrounding fraudulent activity. There are many sections in the Criminal Code that cover these various types of fraudulent offences a person could be charged with. These sections and their overview will be outlined below.
White Collar Fraud
“White Collar Fraud” is not a specific offence in the Criminal Code, but rather a term used to describe financially motivated fraud typically committed by business and government professionals. Some provisions of the code that would deal with these types of offences include:
- Frauds on the Government (s.121 of the Criminal Code) – for the most part, this section relates to bribing, influencing, peddling, and government corruption essentially.
- Breach of Trust by Public Officer (s.122 of the Criminal Code) – a person in a position of trust who misuses or breaches this position of trust during the course of his/her duties could be found guilty of this offence.
- Fraudulent Concealment (s.341 of the Criminal Code) – when one hides, takes, receives or removes anything in an attempt to conceal it for fraudulent means may be guilty of this offence.
- Fraudulent Manipulation of Stock Exchange Transactions (s.382 of the Criminal Code)
- Insider Trading (s.382.1 of the Criminal Code) – this applies to a person who directly or indirectly uses insider information that they have obtained as an “insider” to an organization to their advantage.
- Gaming in Stocks or Merchandising (s.383 of the Criminal Code) – a person could be accused of this offence when they sell stocks or shares they do not own or intent to acquire.
- Broker Reducing Stock by Selling for his Own Account (s.384 of the Criminal Code) – this particular offence occurs when a broker sells shares that are purchased and held on margin for an account which there is a conflict of interest.
- Fraudulent Concealment of Title Documents (s.385 of the Criminal Code) – this offence relates to a person intentionally concealing title documents with the intent to defraud.
- Fraudulent Registration of Title (s.386 of the Criminal Code) – this section states that if a person knowingly provides false information in the process of registering the title to a real estate property with intent to deceive could be found guilty of this offence.
- Fraudulent Sale of Real Property (s.387 of the Criminal Code) – a person may be found guilty of this offence if they sell a property knowing that the prior sale of the property has not yet been registered.
- Fraudulent Receipts Under the Bank Act (s.390 of the Criminal Code) – this section states a person may be found guilty of this offence if s/he has any involvement in handling fraudulent receipts.
- Disposal of Property to Defraud Creditors (s.392 of the Criminal Code) – this section states that any person that disposes of property with the intent to defraud someone they owe money to could be found guilty of this offence.
- Fraud in Relation to Minerals (s.394 of the Criminal Code) – this section states that no person who is the holder of a lease or license relating to the mining of valuable minerals may attempt to defraud or conceal the minerals in any way or they may be found guilty of an offence.
Other Types of Fraud Related Offences
In addition to these “White Collar” types of fraudulent offences, there are other various types of fraudulent offences in the Criminal Code:
- Using Mail to Defraud (s.381 of the Criminal Code) – this section states that any person that uses mail for with the intent to deceive or defraud the public, obtain money under false pretenses, or for delivering letters concerning schemes may be found guilty of this offence.
- Misleading Receipt (s.388 of the Criminal Code) – this section states that anyone who gives false receipt, in a misleading or dishonest manner intentionally, may be found guilty of this offence.
- Fraudulent Disposal of Goods on Which Money Advanced (s.389 of the Criminal Code) – this section states that any person that ships goods that s/he have previously received payment for to a warehouse or factory agent and deals with these goods in a dishonest way that has not previously been agreed upon could be found guilty of this offence.
- Fraud in Relation to Fares (s.393 of the Criminal Code) – this section relates to one’s duty to pay their fares. A person may be found guilty of this offence if they fail to pay their fares, or additionally, if a person is responsible for collecting fares and fails to do so, s/he may be found guilty of this offence.
- Possession of Stolen or Fraudulently Obtained Valuable Minerals (s.394.1 of the Criminal Code) – this section states that no person may possess any valuable mineral that is uncut, unrefined or partly refined or they may be found guilty of this offence.
The Next Steps
Having a conviction of fraud register will have a negative lasting impression on your name, your career, and the rest of your life. Lakin Afolabi is an experienced criminal defence lawyer who has represented individuals charged with fraud. If you or someone you know needs assistance defending their name.
Contact Lakin Afolabi now for a consultation.
Call anytime, day or night, (519)-495-0870