Legal Definitions - fraudare

fraudare

Fraudare is a Latin term originating from Roman law, which translates directly to to defraud. In contemporary legal understanding, it describes the act of intentionally deceiving another person or entity to gain an unfair advantage, typically financial, or to cause them a loss or injury. This involves making false statements, misrepresentations, or concealing crucial information with the specific intent to mislead someone into acting against their own best interest, thereby benefiting the deceiver.

• Example 1: Investment Scheme Deception

  A financial advisor convinces a client to invest a large sum of money into a "guaranteed high-return" fund, knowing that the fund is entirely fictitious and that the money will be diverted for the advisor's personal use. The advisor provides fake prospectuses and fabricated performance reports to support the deception.

  This illustrates fraudare because the advisor intentionally made false representations (the existence of a legitimate fund, guaranteed returns) with the specific goal of deceiving the client and appropriating their money for personal gain, causing the client a significant financial loss.

• Example 2: Misrepresentation in Real Estate

  A homeowner selling their property deliberately conceals severe structural damage, such as a compromised foundation, by patching over cracks and painting affected areas just before potential buyers view the house. They also explicitly deny any structural issues when asked by interested parties.

  Here, the homeowner is engaging in fraudare by intentionally hiding critical defects and making false statements about the property's condition. Their intent is to deceive a buyer into purchasing a property at a price higher than its true value, thereby gaining an unfair financial advantage and causing the buyer future financial harm.

• Example 3: Identity Theft for Credit

  An individual obtains another person's personal identifying information, such as their Social Security number and date of birth, and uses it to open multiple credit card accounts in the victim's name. They then make large purchases on these accounts, never intending to repay the debt.

  This scenario demonstrates fraudare as the perpetrator intentionally deceives credit card companies and merchants by impersonating another individual. Their aim is to gain financial benefits (goods and services) without payment, causing financial loss to the credit card companies and severe credit damage to the victim whose identity was stolen.