what happens if the treasurer of the dance bar takes the income as well as invests it in pennystocks regulating his own investment account, as well as it soars thirty fold, as well as afterwards sells it as well as gives the principal behind to the bar inside of the reduced volume of time, is the distinction of the pennystock partial of the dance bar or given the treasurer put the principal in to the dance bar comment inside of the suitable volume of time, the increase would be his own?
{ 4 comments… read them below or add one }
Taking money from the account is called embezzlement. so even if the money is put back, the profits do not belong to the treasurer as it was not his to begin with and the profit came from committing a crime.
Legally, I think that would be embezzlement unless the investment was done by direction of the owner of the dance club and with his/her full knowledge. At that point, it would be a question of how the owner treated the transaction. If it was a “short term loan” or “pay advance” to the treasurer, then the increase belongs to the treasurer. If the money was given to the treasurer for the express purpose of investing, then all the profits belong to the club unless there was some sort of established contract that called for the treasurer to split the proceeds or get some type of commission.
What happened is that the treasurer was embezzling and using funds from the dance club to “gamble” on the stock market and now he thinks he can just put back the money he “borrowed”…. but his conscience tells him that there is something really wrong with this picture.
If he had lost the money… wouldn’t his excuse be that there was a risk?
Just as the dance club could have lost all this money…. they can also gain all this money.
The money, including the earnings, belong to the dance club.
And the Treasurer should consider himself very lucky that this worked out so well… and in the future… don’t invest money that isn’t yours because if it wins the money is still not yours and if you lose…. then you are a criminal. Either way… you don’t win.
The Treasurer goes to jail is what happens.
(If I break into your house, steal your TV, sell it for three times what a new one costs then replace your TV and keep the change, would that money be “mine”? Of course not!)