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ScottyMacEsq
ScottyMacEsq, Attorney
Category: Estate Law
Satisfied Customers: 11557
Experience:  Licensed Texas General Practice Attorney
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A man we know executed a "trust" for our company and set up

Resolved Question:

A man we know executed a "trust" for our company and set up bank accounts that he ask signed on as trustee. We were Executive Directors - myself & my husband. We made company deposits to that account and he withdrew all the money - $600,000. Who can we report him to and/or what recourse do we have?
Submitted: 1 year ago.
Category: Estate Law
Expert:  ScottyMacEsq replied 1 year ago.

ScottyMacEsq :

Thank you for using JustAnswer. I am researching your issue and will respond shortly.

ScottyMacEsq :

Can you tell me when you actually knew about the theft?

Customer:

He had two accounts. We would make all deposits in one account and then when we needed amounts to pay our bills with, we would contact him and he would then move the amount we told him to the other account, So, it may have been a month or so beefier we knew it was all gone. He said he invested it.

ScottyMacEsq :

But to be clear, that was all back in 1999, when you found out about it?

Customer:

Yes, I believe so. Been so long and have not looked at anything about it in a long time. Trust was opened in 1999 & it could have been between then and 2000 but I don't think so.

ScottyMacEsq :

Was he also located in Florida, or was he in some other state?

Customer:

He lived in Jupiter, FL.

ScottyMacEsq :

And I assume that you were in Florida at the time as well? What is the reason that you did not take legal action against him sooner?

Customer:

We lived near Tampa, FL

ScottyMacEsq :

And again, what is the reason that you did not take legal action against him sooner?

ScottyMacEsq :

Are you still therer?

ScottyMacEsq :

*there?

Customer:

Didn't really know what to do. We hired a private detective who told us two of his family members received the monies into their accounts up north someplace. Then he (detec.) no longer contacted us either. Me and representative of the detective me me in Jupiter and confronted him in person at a business he opened. We took pics of him and he said to leave or he would call police. His elderly parents were at this place of business also & I felt bad for them. Then contacted the attorney and he le us to believe there was nothing we could do.

ScottyMacEsq :

Thank you.

ScottyMacEsq :

Thank you for that additional information. I was seeing if some other state's statute of limitation could apply, or if there could be grounds for Federal (interstate) fraud (which if it was in the same state, that would not be the case...).

ScottyMacEsq :

That is true that unfortunately there is nothing that you can do...

ScottyMacEsq :

I am very sorry to hear about your situation.

ScottyMacEsq :

You see...

Customer:

Oh, great - thank you anyway.

ScottyMacEsq :

I'll explain if you have a few minutes...

Customer:

ok

ScottyMacEsq :

you see, criminally the maximum statute of limitations (except for capital cases) would be five years from the date of the criminal act. If he embezzled the money in 1999, that means that sometimes 2004 the statute of limitations would run. Similarly, the statue limitations for fraud is four years. Now in civil cases there is a doctrine known as the "discovery rule". The discovery rule says that the statute of limitations will not run until you reasonably knew or should have known that the fraudulent act occurred.

ScottyMacEsq :

The problem is that you said that you knew there was problem in the year 2000. That means that at the latest the statue of limitations would being running from that time, and would be up in 2004.

ScottyMacEsq :

the fact that you did not know where he was located was not a bar to suing him. That is not, unfortunately, something that you can claim to be able to get you into the court.

ScottyMacEsq :

The only thing that you could claim is if you were in a coma or otherwise legally incapacitiated to the extent that you were unable to file a lawsuit against this individual.

ScottyMacEsq :

(or press charges against him)

ScottyMacEsq :

Again, I am very sorry to hear about your situation, and I hope that you recognize that I tried to seek any alternative option for you to have legal recourse. I know this is probably not what you wanted to hear, but it is the law. I hope that clears things up anyway. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX luck to you!

Customer:

Oh - that makes sense. I actually believed for a ling time that he "invested" it for us and he told us he had put it offshore and it would draw 35% so I just ket on cntating him and he just kept telling me new lies about an atty in CA who actually did the invest for him and HE stole our money

Customer:

Thank you very much!!

ScottyMacEsq :

Wow. I can only hope for some universal justice against this conartist...

ScottyMacEsq :

My pleasure.If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX good luck to you!

ScottyMacEsq, Attorney
Category: Estate Law
Satisfied Customers: 11557
Experience: Licensed Texas General Practice Attorney
ScottyMacEsq and 2 other Estate Law Specialists are ready to help you

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