Is james guilty of embezzlement

Assignment Help Financial Management

Reference no: EM131958205

James, a successful stockbroker, gives a lecture about investing. Some of the people who attend the lecture are from ER Investing Inc., an investment club, and they ask James to advise them.

ER Investing Inc. allows James to set up an account for the club with a brokerage firm and gives James control of the account, but does not authorize James to withdraw funds for his own benefit. James uses the money in the ER Investing Inc. account to repay personal loans.

Before ER Investing Inc. discovers it, James returns the money. However, an independent audit clearly shows James took money. Charged with embezzlement, James defends his actions on the ground that he repaid the club.

Is James guilty of embezzlement? Why or why not?

Reference no: EM131958205

Questions Cloud

Impact on the quality of documents : What costs could have an impact on the quality of documents?

How about gender issues in names such as the warriors : How about gender issues in names such as the Warriors and the Lady Warriors? Discuss whether you feel the names of sports teams or mascots is an ethical.

Relationship and reliability on performance appraisals : For this discussion, compare the following pay structures in terms of their relationship and reliability on performance appraisals:

What is your estimate of the company current stock price : A company currently pays a dividend of $2.00 per share (i.e., D0=$2.0). It is estimated that company's dividend will grow at a rate of 20%.

Is james guilty of embezzlement : Some of the people who attend the lecture are from ER Investing Inc., an investment club, and they ask James to advise them.

What are the americell annual sales : If the Americell Corp. has a quick ratio of 1.4, a current ratio of 2.8, an inventory turnover of 8 times, total current assets of $68,000.

How the sacred divide affects our relationship with god : Firstly, I would like to point out that through this post I will try to reflect how the sacred / secular divide affects our relationship with God.

Threat of new entry into the industry : Since some of Emirates new competitors are also fairly new airlines (Qatar and Etihad), what implications does this have for threat of new entry.

What is most expensive car you can afford : What is the most expensive car you can afford if you finance it for 48 months?

User Account

All Pages