Corporate Fraud

[TonyG]

With Corporate Fraud being in the news yet again this week I looked at the definition for it and found that 'Corporate fraud consists of activities undertaken by an individual or company that are done in a dishonest or illegal manner, and are designed to give an advantage to the perpetrating individual or company'.

That being the case why are employers who lie at employment tribunals, to give themselves an advantage in winning the case so they dont have to pay compensation to employees, not charged with Corporate Fraud when they are caught lying?

[des8]

Simply because it is not Corporate Fraud, just an individual lying under oath for which he/she could be prosecuted.

[TonyG]

Simply because it is not Corporate Fraud, just an individual lying under oath for which he/she could be prosecuted.

So a company lying to gain money would be guilty of corporate fraud, but a company lying to prevent the loss of their own money isnt guilty of corporate fraud?

Im just not grasping how lying in an employment tribunal, which is a dishonest activity to gain an advantage that would prevent the company losing money, does not fall under the scope of corporate fraud; unless there is more to fraud then the description I found. Would it make any difference if the person lying in court was the owner of the company and not just a paid employee?

[des8]

Lying in a court or tribunal is not fraud... it is perjury
Jeffery Archer was jailed for perjury, not fraud, after it was found he had lied in his libel action

Fraud is a criminal act mainly legislated against in the Fraud Act 2006, (although it can also be a tort)

[TonyG]

I knew about perjury but as the courts and police are not interested in anyone committing it, unless its a high profile person or case, then the perjury laws are useless. Just thought there may be another way to deal with people who lie in court. Thanks for taking the time to explain.