3B: 1-9 Effect of fraud and evasion

3B: 1-9 Effect of fraud and evasion

Whenever fraud has been perpetrated in connection with any proceeding or in any statement filed under this title or if fraud is used to avoid or circumvent the provisions or purposes of this title, any person injured thereby may obtain appropriate relief against the perpetrator of the fraud or restitution from any person (other than a bona fide purchaser or lender) benefitting from the fraud, whether innocent or not. Any proceeding must be commenced within 2 years after the discovery of the fraud, but no proceeding may be brought against one not a perpetrator of the fraud later than 5 years after the time of commision of the fraud. This section has no bearing on remedies relating to fraud practiced on a decedent during his lifetime which affeccts the succession of his estate.