Legal Question in Criminal Law in California
Promissory Note - Fraudulent Security Interest
I loaned a person money with a
security interest in three high value
men�s watches (rolex) with me
having possession of these
watches. The loan is currently in
default of the payment obligations.
So, at this point I went to have the
watches appraised and learned that
one of the watches was fake, one
was real, and one needs more
analysis. Question: Is there
criminal fraud in this situation or
some other civil breach of contract?
Or both?
1 Answer from Attorneys
Re: Promissory Note - Fraudulent Security Interest
You can sue for your money, and you can claim in your suit that the security was phony. But, the police are not likely to be interested enough in this case to file charges; you can try them though. If you decide you are serious about getting counsel to file suit, feel free to contact me.
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