Asset Misappropriation Fraud Solicitors in London

Updated on Monday 22nd July 2019

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The asset misappropriation fraud is also known as insider fraud and it involves company employees acting in a fraudulent manner inside the organization. This normally involves managers, directors or employees who abuse their position from personal gains. Our asset misappropriation fraud solicitors in London can offer their legal advice and support to all offenders implicated in such accusations. On the other hand, our criminal defence solicitors in London can support victims and companies in making reports and looking for justice in cases of asset misappropriation frauds.

General facts and details about asset misappropriation frauds

Holding a solid position in the firm can make some employees act in an illegal manner in the company. This means that they can provide inside information to other parties in exchange for money or other assets. This is definitely a serious crime for which punishments are in accordance: persons found guilty can face imprisonment or companies might receive huge penalties. The following details highlight the asset misappropriation frauds:
  1. Stolen assets inside the company normally involve managers, directors or employees.
  2. Even intellectual property can be part of asset misappropriation fraud.
  3. It might be discovered that employees in a firm have been lying about company expenses.
  4. Stolen physical assets of a company are not part of asset misappropriation frauds.
  5. Stealing from the company can become systematic if offenders are not discovered in time.
When fraud suspicions are on debate, company owners or managers can ask for an inside verification. If frauds are discovered, the support of asset misappropriation solicitors in London is suggested. They can provide in-depth legal advice for company owners and employees in such a situation.

What’s the impact of asset misappropriation fraud?

The consequences of asset misappropriation fraud are strictly related to the cash flow and the loss of funds in the company. In other words, stealing small or large money inside the company by abusing the position in the firm is considered asset misappropriation fraud, a serious crime in UK and anywhere in the world. If you believe that illegal activities take place in your company in UK, we strongly recommend you get in touch with our asset misappropriation fraud solicitors in London and ask for immediate legal support. The legal representation in front of the authorities is quite necessary in cases of asset misappropriation frauds because it is important to understand the implications right from the start when such accusations are made. Do not hesitate to talk to one of our criminal solicitors in London and ask for immediate legal advice.

Types of asset misappropriation frauds

Payroll fraud, embezzlement comprising false invoices, intellectual property theft, false expense claims, or deception by employees are a few of the asset misappropriation frauds that occur on a daily basis in many companies. The first thing to do if you believe that your company is involved in asset misappropriation fraud is to contact the police and then ask for legal assistance from a criminal defence lawyer in London. Normally, when such accusations have been brought in the attention of the authorities, a criminal investigation will commence. 

What can we do in cases of asset misappropriation frauds?

Besides contacting the police, you can suspend the activities of employees suspected of fraud.  This way you can prevent any future financial losses in the firm. Also, with the help of the authorities and criminal lawyers in London, you can begin recovering the stolen assets or funds through dismissal and/or disciplinary measures. Besides the above-mentioned procedures, company owners or organization directors will have to pay more attention to the type of employees they want to hire in the future. Additionally, imposing a clear segregation of duties and implementing a series of policies might become proper options to avoid asset misappropriation frauds in companies. Below you can find some information and statistics about frauds and misdemeanors in UK:
  • more than 25% of fraud cases have been solved by the UK authorities in 2019.
  • cyber crime victims lose around GBP 190,000 each day.
  • there are more than 5,000 persons frauded on the internet every day.
  • in the past 6 months, more than 13,300 persons reported frauds involving the internet.
Have you been accused of asset misappropriation fraud in UK? Please feel free to contact our team of criminal defence solicitors in London and ask for immediate and complete legal advice.