BUSINESS FRAUD I CORPORATE FRAUD – How can the Secretary of State help victims of Corporate Fraud – VCFCF: Victims of Corporate Fraud Compensation Fund

BUSINESS FRAUD I CORPORATE FRAUD – How can the Secretary of State help victims of Corporate Fraud – VCFCF: Victims of Corporate Fraud Compensation Fund

May 28, 2019

The Secretary of State of California has set up a Victims of Corporate Fraud Compensation Fund “VCFCF” which provides limited restitution to victims of corporate fraud who have otherwise been unable to collect on their judgment. The preliminary question you may as is: “What is ‘Corporate Fraud’?”

In response the Secretary of State of California, has defined ‘Corporate Fraud’ as follows:

“What is “corporate fraud?” – The concept of corporate fraud is very broad and encompasses a variety of criminal and civil violations. There is no single definition in the law. For VCFCF purposes, corporate fraud is fraud, misrepresentation, or deceit, made with intent to defraud, and involving a corporation. Some examples of corporate fraud may include, but are not limited to, fraud or illegal practice in the issuance or sale of securities, false reports or entries on corporate documents with intent to deceive, or purchase or sale of securities by a person having access to material information not available to the public through a special relationship with the issuer (insider trading).”

For other frequently asked questions related to the victims of corporate fraud compensation fund a link to the Secretary of State website can be found here: https://www.sos.ca.gov/business-programs/vcfcf/frequently-asked-questions/

If you have any questions or concerns as it relates to corporate fraud, business fraud or the victims of corporate fraud compensation fund we encourage you to reach out to one of our experienced corporate law attorneys and fraud lawyers at 619-432-5145.