Final answer:
False,The statement is false; individuals can be subject to both criminal and civil prosecution for the same act as they are separate legal matters with different burdens of proof and purposes, and this does not violate the principle of double jeopardy.
Step-by-step explanation:
The statement that an individual committing fraud can be prosecuted either criminally or civilly, but not both, is False. An individual can indeed face both criminal and civil charges for the same act.
This is because criminal and civil trials operate under different areas of law and have different burdens of proof. For example, in a criminal trial, guilt must be proven 'beyond a reasonable doubt', while in a civil case, liability is determined by a 'preponderance of the evidence'.
Furthermore, these trials serve different purposes: criminal cases aim to punish the wrongdoer and protect society, while civil cases focus on compensating the victim.
The concept of double jeopardy does not apply across these separate branches of law, meaning a person acquitted on criminal charges can still face a civil lawsuit.
Double jeopardy refers to being tried again for the same crime after acquittal, which is indeed forbidden, but it doesn't preclude civil trials following criminal trials even for the same incident.
An example of this would be the O.J. Simpson case, where after being acquitted in criminal court, he was still found liable in civil court for wrongful death.