Self-dealing is an unlawful business practice that occurs when someone who has a fiduciary duty puts their own personal financial interests above the interests of the organization to which they owe that duty. In California, self-dealing is a form of business fraud. If your business interests have been adversely affected by insider self-dealing, please contact an experienced San Jose business fraud attorney to learn more about your legal options.
Business fraud is a serious issue that can have a significant impact on those affected, including other businesses. According to a survey conducted by PricewaterhouseCoopers (PwC), 45 percent of U.S. organizations have been the victim of economic crime in the past two years. Business fraud occurs when one party uses trickery or deceit in order to obtain value or to gain an unfair advantage over another party. When a business fraud is perpetrated by one business upon another, the financial consequences can be significant. Fortunately, companies that have suffered a financial harm because of fraud can often recover for the losses they have sustained by filing a legal action against the person or party that defrauded them. There are many ways in which a business can be the victim of fraud.