For all you white collar specialists. . .

Two men invest LOTS of money in a purported corporation in Florida. Instead of getting shares in this corporation, they sign a contract giving them something like .25% ownership in the company. At any rate, after some time they have not seen any of their money back and they begin calling the guy who promises them their initital investment back very soon. Finally he issues them a check for the initial investment (I believe it is around $40,000). Suprise, Suprise, the check bounces and now these guys are out their money. I've been looking in the code for a good crime to saddle this guy with. Issuance of a bad check really doesn't seem to fit what this guy did to his investors. Can anyone help me with some ideas? Is their something in the business and commerce code that could help? Thanks for the assistance.


Steve Lilley
Asst. D.A. Hopkins County

Use a grand jury subpoena to get the bank records of the alleged defendant. If the money was used for personal use rather than legitimate business purposes you may have missaplication of fidicuary property.

I do not know all your facts, but this is just a quick suggestion.

Is the crime happening in Florida, except for the bad check?

Well I looked into the code a little deeper and based on the first reply, I think the best charge (and the one that actually occurred in Texas) would be securing execution of a document by deception. The two local victims singed a contract for partial ownership in a corporation which was not actually a legal Florida corporation at all. Presumably, the money turned over based upon the signing of the contract went directly to the suspect (subpoening bank records should verify this) thereby "affecting the pecuniary interest" of the defendant. Any other thoughts?


Steve Lilley

Misapplication or theft would get the job done.

Do you have a copy of the contract, and does it specify a legal Florida corporation, or a corporation operating in Florida. They may be a Nevada or Delaware Corporation. It sounds toooo easy here, and when it sounds good, the paper will get you! Also, can you issue a Texas District Court subpoena for Florida Bank Records? If all the contract did was give them a .25% ownership in a corporation in Florida, you may have a bad business decision. Let us know, this sounds interesting.

The bank is not bound by the subpoena if it is not in Texas, but may choose to comply with it. If it is a bigger bank, serve the subpoena on a Texas branch. That will ensure faster compliance, or at least cut through your red tape a little faster.