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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso – What Is Fraud?
Description: What Is Fraud? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Fraud is officially defined as “The use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets.” Fraud occurs in startups and small businesses and is usually through the action of a founder or employee. There are five elements of a fraud as follows: It represents a material fact which is false That is made intentionally, Which is believed by the victim And acted on by the victi...