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Essay / Property Crime Article - 963
Property crimes are a branch of criminal law that deals with the damage, destruction, and theft of an individual's tangible and intangible property. Specifically, property crimes primarily involve fraud, arson, break-ins, possession of stolen property, and various other types of theft. This particular case concerns fraud, defined as the deception or misguidance of an individual for criminal purposes. The majority of frauds involve credit scams or major stock market scams. For example, fraud is committed if an individual changes the monetary value of a check in order to obtain more money without your knowledge. Before convicting an individual of fraud, it is the sole duty of the prosecutor to prove that the accused understood that his or her actions would result in financial loss to others. Once the prosecutor is able to prove the defendant's intentions, the individual will be sentenced according to the guidelines listed below. This particular case involves an Aurora couple who gleaned fees from penny stock investors through the American Heritage Stock Transfer Inc. (Ontario). In May 2009, Mr. Curry sent letters to potential investors announcing "unpaid dividends" and offering them the opportunity to buy Nanotech shares below market value; through the use of America Heritage Stock Transfer. Additionally, Curry traded stocks without registration, prohibited representation, and illegally distributed securities. Although not all major investors purchased fraudulent stocks, it is assumed that a large majority of unknown families took the bait to purchase these stocks. Currently, this penny stock scam has raised a whopping $140 million from investors. On the other hand, after an investigation by Ontario...... middle of paper ...... personal criminal gains through loss of property. An example of fraud is writing a check containing an amount of money that you knowingly understand is not in your bank account. The second key word is theft, which is the theft of tangible or intangible property from another without their consent. For example, Mr. Curry had committed theft for stealing money from families without providing legitimate stock in return. The final key word is property crime, which refers to a category of crimes that involves the theft of money and/or property without consent, but without the use of physical force. Examples of types of property crimes include: arson, fraud, possession of stolen property, break and enter, and various other types of theft. Works Cited Acharya, Madhavi and Tom Yew. “OSC sanctions Aurora couple for fraudulent scheme.” Toronto Star [Toronto] December 24, 2013, B2. Print.