Long firm fraud
This type of fraud is making a come back after being popular in the 1960’s and 70’s. The most famous fraudsters committing this type of fraud were the Kray twins. The way this fraud is perpetrated is for a business to start up and trade for a period of time building up a good credit history and a good reputation as a business. Lots of small orders will be placed with wholesalers and these will be paid for promptly leading the suppliers to believe it is a business to be trusted. Once the trust has been built up large orders will suddenly be placed and the goods are never paid for and the firm has disappeared long with the goods.
Short firm fraud
As the name suggests this is a similar type fraud but committed over a shorter timescale. These days it is often internet cased and the fraudulent businesses will only operate for a few months. In these cases the business doesn’t try to build up a credit history but immediately tries to obtain credit and goods often having goods delivered to third party addresses and often to multi-occupancy trading estates. Once again the goods are never paid for and the businesses disappear.
It is easy to get caught up in the paper trail of these offences due to theft of company identity and increasingly sophisticated ways of diverting the blame onto innocent businesses. It may be that you or your business has become embroiled in one of these scams and you are being accused of fraud. If this happens it is vital to secure expert advice immediately from specialist lawyers who are used to dealing with complex fraud.
Our experienced team of serious fraud lawyers has the expertise and knowledge to look at the required level of detail to defend you. Contact our expert fraud solicitors on 0203 816 9274 or complete our online enquiry form.