Embezzlement and misappropriation of funds is a breach of fiduciary duty in a business situation. When do you need an experienced civil embezzlement and misappropriation of funds attorney in San Diego or Southern California? It is a criminal and a civil offense for anyone in a position of trust to unlawfully take, use or appropriate the assets or property of a business or individual they serve.
Embezzlement and Misappropriation of Funds is Breach of Fiduciary Duty in California
Legally, the term which applies to the responsibilities of the person in a position of trust is a “fiduciary duty.” In essence, the law requires those with a fiduciary duty to act in the best interest of their employer or client. Why is a breach of fiduciary duty important from a legal perspective? Here in California, a breach of fiduciary duty opens the door to a substantial number of remedies for our clients, such as the right to a full accounting of the situation, an award of financial damages, the disgorgement of any profit from self-dealing (the party who self deals must surrender all financial and other gains achieved through the breach of fiduciary duty), and in some cases the opportunity for an award for legal fees.
A Civil Lawsuit for Embezzlement or Misappropriation of Funds
A lawsuit or legal action for civil embezzlement and misappropriation of funds seeks financial damages associated with the actions of a fiduciary. Usually, financial damages include but are not limited to reimbursement, losses due to the absence of the asset or property and amounts to punish the wrongdoer and set an example.
Misappropriation can occur a single time or it can be a sequence of events or scheme which unfolds across a period of time. In many cases, an executive of a corporation, partner or fellow member of an LLC has inappropriately taken money out of the business or used it’s assets for personal game. Bookkeepers and accountants are often the source of misappropriated funds.
How Can The Watkins Firm Help You?
A civil embezzlement and misappropriation of funds attorney at the Watkins Firm will work with you to uncover the facts, recover any money or property and seek associated damages. You will need legal investigation and forensic accounting to trace the actions and activities associated with the embezzlement or theft. You can’t simply review the books. In order for this type of scheme to work the perpetrator has usually created fictitious documents and entries to hide their actions.
This is why it is important to contact the Watkins Firm if you suspect an employee, fellow executive or partner of taking money from your company or using it’s assets for personal purposes. We invite you to review the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
