Theft, Embezzlement, and Conversion
San Diego Business Tort Attorneys
Unfortunately, businesses in Southern California risk succumbing to theft, embezzlement, or conversion from their own members, employees, and vendors – maybe the bookkeeper starts to siphon off a few thousand dollars here and there or a vendor refuses to return a down payment despite a cancelled contract. Although theft and embezzlement are crimes, you or your business may be entitled to recovery in a civil court under theories of fraud, conversion, breach of fiduciary duty, or receipt of stolen property.
Embezzlement
Embezzlement is basically theft by someone in breach of your or your business’s trust, such as an accountant or business partner. Embezzlement creates several civil causes of action that can be pursued for a financial recovery, such as conversion and breach of fiduciary duty.
Conversion
Conversion is similar to theft in that the claim is for recovery of damages for the defendant’s wrongful taking of your property. The claim is often brought in connection with a fraud claim. We have successfully represented clients in enforcing and in defending against claims for conversion. In either situation, our San Diego attorneys evaluate the claims quickly to minimize the potential harm to our client.
The elements of a conversion are:
$The plaintiff's ownership or right to possession of the property at the time of the conversion;
$The defendant's conversion by a wrongful act or disposition of property rights; and
$Damages. Oakdale Village Group v. Fong, 43 Cal. App. 4th 539, 543-544 (1996).
Breach of Fiduciary Duty
The wrongful taking of property by a person in a position of trust and confidentiality to you or your business may be a breach of that person’s fiduciary duty to you or your company. Fiduciary relationships arise in many settings, such as between corporate officers, business partners, lawyers and their clients, and accountants to their clients. The fiduciary duties of loyalty and care are of the highest magnitude. A bookkeeper’s embezzlement would be an example of a breach of fiduciary duty.
The elements of a claim for breach of fiduciary duty are:
$The existence of a fiduciary relationship,
$Breach of the Fiduciary Duty, and
$Damage proximately caused by that breach. Mendoza v. Continental Sales Co., 140 Cal. App. 4th 1395, 1405 (2006).
Everything Matters
Foldenauer Law Group has prosecuted many business disputes for our clients resulting in settlements and awards of millions of dollars. We have defended business owners and obtained “zero dollar” and “nuisance value” settlements. We have litigated cases resulting in early case dismissals and through jury or bench trial resulting in defense verdicts. We have built our success on nearly 30 years of combined experience and have a proven track-record. It’s no accident. We work exceptionally hard to obtain extraordinary results for our clients.
We are selective. We limit the number of cases we accept at any given time to ensure that our clients’ cases receive the extra time and effort needed to achieve extraordinary results.
To us – everything matters.
Contact a Top-Rated Business Tort Attorney Today
If you or your business are in need of a top-rated business tort attorney, please call us today at (619) 564-8877. We will provide a free in-person consultation, listen to all of your questions and concerns, and will assist you or your business in developing a winning strategy. We look forward to earning your trust and the honor of being your attorneys. We also welcome case referrals and inquiries for co-counsel, local counsel, and consulting from other law firms in California and nationwide.