Financial fraud in New Jersey divorces is rare, but it does happen. If an individual suspects that their spouse is intentionally withholding information about marital assets, they might want to enlist the expertise of a forensic accountant. A forensic accountant may be able to compare tax returns, bank statements and other financial documents to look for fraud.
One of the most common types of financial fraud that can affect property division in a divorce occurs when one spouse intentionally hides assets. During a marriage, one spouse may lie to the other spouse about the family income and keep some assets hidden away. If the spouse does not come clean about the hidden assets during divorce proceedings, they could be accused of financial fraud.
Another divorce-related financial fraud issue is dissipation of assets. This can occur when one spouse spends marital assets frivolously without the other spouse’s knowledge. The marital assets might be spent on things like extramarital affairs, gambling or hobbies. Dissipation could also occur when a spouse gives away assets, sells property for less than it is worth or intentionally destroys marital property. If a spouse is found to have intentionally dissipated marital assets as a marriage is coming to an end, he or she could be entitled to a smaller portion of the marital assets that remain.
A divorcing person who believes that their spouse has engaged in some type of financial fraud might want to seek representation from an attorney. A divorceattorney may be able to work with forensic accountants to determine the location and value of all marital assets and investigate whether any financial fraud has occurred.
