What is the name of your state (only U.S. law)? This case hails from PA.
Since it has become quite lonely here in the low rent Wills & Trusts digs, I thought that I would offer up this evidence that not all fiduciaries "get away with it."
http://triblive.com/news/1991334-74/family-adopted-money-pompa-trust-14-assets-defensible-didn-florida
Since it has become quite lonely here in the low rent Wills & Trusts digs, I thought that I would offer up this evidence that not all fiduciaries "get away with it."
http://triblive.com/news/1991334-74/family-adopted-money-pompa-trust-14-assets-defensible-didn-florida
Daniel Pompa and his wife Merily didn't mean to take what wasn't theirs when they spent lavishly with $1.4 million set aside in a trust for twin orphans they adopted, her lawyer said on Wednesday....
Allegheny County Common Pleas Judge Kevin Sasinoski sentenced Daniel, 46, and Merily Pompa, 44, formerly of Cranberry, to 16 years of probation and ordered them to repay the money. Each pleaded guilty to eight charges, each of which carried a maximum sentence of two years in prison.
The Pompas used the children's money for items including a $24,000 Bose home theater system, a $1,000 donation to the Santorum Victory Committee, a $26,000 payment to Mercedes Benz Financial, more than $125,000 to North Way Christian Community Church and $49,000 to Saks Fifth Avenue, according to prosecutors....
According to an affidavit, the Pompas used money from the trust to move from their $260,000 home in Oakmont to a $760,000 home in Pine. They later upgraded to a $1.3 million Cranberry house.