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    kj52's Avatar
    kj52 Posts: 2, Reputation: 1
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    #1

    Mar 26, 2009, 05:04 PM
    Embezzlement of security deposits
    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    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's Avatar
    kj52 Posts: 2, Reputation: 1
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    #3

    Mar 26, 2009, 06:44 PM

    It's in Missouri. I believe they are to be in a separate, non-interest bearing account.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    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
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