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Financial fraud is a devastating crime that leaves victims in emotional and financial turmoil. It’s a theft that undermines trust and security, leading to significant personal and economic consequences. As financial fraud becomes increasingly sophisticated, the number of victims continues to rise.
The Growing Problem of Financial Fraud
Financial fraud encompasses a variety of schemes, including identity theft, credit card fraud, investment fraud, and more. According to the Federal Trade Commission (FTC), 1 in 4 reported financial losses from fraud in 2023, totaling $10 billion. Identity theft alone accounted for over 1.4 million reports, making it one of the most common types of fraud.
The Impact on Victims
The consequences of financial fraud extend far beyond economic loss. Victims often experience a range of adverse effects, including:
- Emotional Distress: The shock of realizing one’s finances have been compromised can lead to significant emotional distress, including anxiety, depression, and a sense of violation.
- Financial Hardship: Recovering from financial fraud can be lengthy and challenging, often resulting in severe economic hardship. Victims may face difficulties paying bills, securing loans, and maintaining their standard of living.
- Damage to Credit: Fraudulent activities can severely damage a victim’s credit score, making it difficult to obtain credit or loans in the future.
- Time and Effort: Resolving these cases involves dealing with banks, credit agencies, and law enforcement, which can be time-consuming and stressful.
Trumettle Surgical, Inc. and Jonathan Gross vs. Intelivation Technologies, LLC
In a recent case filed by Andreozzi + Foote, plaintiffs Trumettle Surgical, Inc. and its principal agent, Jonathan Gross, seek justice against Intelivation Technologies, LLC, for breach of contract and unjust enrichment. The case underscores the complexities of financial fraud and the importance of civil lawsuits in holding perpetrators accountable.
The plaintiffs allege that Intelivation Technologies, LLC breached their contract by failing to pay commissions owed for sales facilitated by Jonathan Gross. Despite multiple reassurances and an implied contract, Intelivation did not provide a suitable agreement and withheld payment.
Financial Impact: Gross facilitated sales of $811,420.00, for which he was promised a 35% commission. Intelivation’s failure to honor this agreement resulted in a loss of $283,997.00 for Gross.
The Role of Civil Lawsuits
Civil lawsuits are crucial in providing victims of financial fraud with a path to justice and compensation. Through civil litigation, victims can:
- Seek Compensation: Lawsuits allow victims to recover financial losses and seek damages for the emotional and financial hardship endured.
- Hold Perpetrators Accountable: Civil suits can hold perpetrators accountable, deter future fraudulent activities, and promote ethical business practices.
- Raise Awareness: High-profile cases can raise public awareness about financial fraud, encouraging others to take preventive measures and seek justice.
The impact of these crimes on victims is profound, extending beyond financial loss to emotional and psychological distress. Civil lawsuits help seek justice and compensation, as demonstrated by the cases of Trumettle Surgical, Inc. and Jonathan Gross. At Andreozzi + Foote, we are committed to helping victims navigate the legal system and achieve the justice they deserve. If you or someone you know has been a victim of financial fraud, contact us today. 1-866-753-5458
