When most people think of broker wrongdoing, they think of fraud. Under the law, however, not all wrongdoing is fraud. Fraud requires an “intent” by the broker to deliberately deceive someone in order to secure an unfair gain.
To prevail on a legal claim of fraud, you must generally prove the following five elements:
- Your broker made a misstatement or omission of a fact;
- Your broker knew his (her) misstatement or omission was false when he (she) made it;
- Your broker made the misstatement or omission for the purpose of inducing you to rely on it;
- You relied on your broker’s misstatement or omission; and
- You suffered damages as a result of your reliance on your broker’s misstatement or omission.
If you think you might be the victim of broker wrongdoing that rises to the level of fraud, contact Jacobson Law P.A. to discuss the specific facts of your case.