Unfortunately, fraud is very prevalent in the corporate world. Most often, when fraud occurs, the corporate veil is pierced and the owners and those that committed the fraudulent act find themselves personally liable.

In Black’s Law Dictionary, fraud is defined as “All multifarious means which human ingenuity can devise, and which are resorted to by one individual to get an advantage over another by false suggestions or suppression of the truth. It includes all surprises, tricks, cunning or dissembling, and any unfair way which another is cheated.”