View Full Version : Embezzlement of security deposits
kj52
Mar 26, 2009, 05:04 PM
If a property manager uses security deposit funds for personal payments what is this called. Can they be prosecuted and what possible fines or punishments are possible?
Thank you.
Fr_Chuck
Mar 26, 2009, 06:10 PM
What are the state laws in that state for what has to be done with the security deposit, some require it to be put into a separate account
Is the property owner going to press charges, if so, the name of the actual charge will vary by state
Theft, embezzlement, fraud and so on
kj52
Mar 26, 2009, 06:44 PM
It's in Missouri. I believe they are to be in a separate, non-interest bearing account.
excon
Mar 27, 2009, 04:27 AM
Hello k:
It's NOT criminal, so they can't be prosecuted. They can be SUED, though.
What will somebody win, IF they win?? Their deposit back.
excon