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Loren, Attorney
Category: Business Law
Satisfied Customers: 34018
Experience:  30 years experience representing clients .
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My name is listed on a fraternity business account with a couple

Resolved Question:

My name is XXXXX XXXXX a fraternity business account with a couple of other members. It is my understanding that everyone with their name on the account can write checks, make deposits and withdrawls, etc. Recently I discovered that a party who has thier name on the account has been withdrawing funds without authorization for what I assume is for personal use. Is this legal considering that his name is XXXXX XXXXX the account? Is there any legal action (Criminal or Civil) that I can take?
Submitted: 6 years ago.
Category: Business Law
Expert:  Loren replied 6 years ago.

As a criminal matter, if the party taking money is in a position of trust, it could be embezzlement. At the very least, there would be a civil claim by the fraternity against the individual for conversion.

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