What are the most common types of bankruptcy fraud in business?
What are the most common types of bankruptcy fraud in business?
When it comes to the different types of bankruptcy fraud, there are few offenses that are more serious than those involving businesses. When you're dealing with companies who have a lot of money—or even just a little bit—at stake in their decisions, it's easy for people to try and cheat the system.
The most common types of bankruptcy fraud in business include inflating cash flow or revenues, concealing assets, lying about personal finances, making false statements on disclosure forms, and destroying records. It's also important to remember that these are all illegal activities; if you're a business owner who is thinking about committing one of these acts, you should think again.
In addition, one of the most common types of bankruptcy fraud in business is identity theft. Identity thieves can steal personal information and use it to create a fake identity for filing bankruptcy in order to evade their creditors. This type of fraud is increasingly common among businesses as well, especially small ones. A bankruptcy lawyer can help you determine whether your business is at risk for identity theft-related bankruptcy fraud.
If you have any questions or in need a Business Bankruptcy Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
