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Fraudulent Acts

A legal term used in business. It covers an illegal act by an officer, director, or owner of a business operation. Often used in ‘Piercing the Corporate Veil’ for a creditor to gain access to the personal assets of the shareholder(s) of an incorporated business operation. If a fraudulent act occurs, the perpatrator does not receive protection under the law that the corporate sheild provides.

Piercing the Corporate Veil

06/01/2013

When shareholders invest into a corporation, there is an expectation of limited losses amounting to the financial investment made.  However, if the company is not properly run, officers, directors and shareholders are exposed to the blade of the [...]