Legal Question in Criminal Law in Maryland

I was the president of small club, I was all so the treasure, at times I lent out money to persons, which was paid back with in a week, is thie against the law


Asked on 2/23/10, 6:00 am

1 Answer from Attorneys

William Welch William L. Welch, III Attorney

Probably not. You may want to check the club's by-laws regarding whether you had the authority to do that. If you did not, then there may be civil liability.

If you loaned the money to yourself or someone, who did not pay it back, then the club may allege embezzlement, theft or a scheme. Certainly, fiduciaries have the responsibility to protect the value of the property that they hold. Cash depreciates, so it is responsible to deposit the money in the bank and to make investments that maintain or increase the value of the money. If you took steps the make sure that the loan was a good risk, such as securing collateral, then it's good business.

Anyone may be accused of a crime, whether or not he or she has broken the law. Given that, while you cannot prevent someone from charging you, you can take steps to reduce the likelihood of someone accusing you of a crime or a breach of fiduciary duty.

If you have additional concerns, I offer a free initial consultation.

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Answered on 2/28/10, 7:08 am


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