Q: Is it possible to charge the borrower on an unsecured promissory note with wire fraud and conspiracy?
My friend loaned a significant amount of money on the basis of an unsecured promissory note. It was supposedly for a CBD business, though it did not specify the purpose for which it could be used. The payments dried up over a year ago. The payor claimed that after the CBD business, he transferred the money to crypto trading and the money was lost. The parties are not being transparent and I think that she should proceed with prosecution. At least, she stands to uncover what has happened to her money.
A:
PROSECUTION IS UP TO THE POLICE ARRESTING AND DA FILING.
YOU CAN FILE CIVIL ACTION, BUT THE LEGAL FEES MAY BE MORE THAN THE AMOUNT IN QUESTION.
I DOUBT IF YOU CAN FIND A LAWYER TO ACCEPT THE CASE ON A CONTINGENCY.
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A:
Under California law, charging someone with wire fraud requires proving that the person intentionally deceived another party to obtain money or property through the use of electronic communications. If your friend's money was borrowed under false pretenses, and the borrower had no intention of paying it back or used deceptive means to secure the loan, this could potentially be grounds for wire fraud charges. However, proving intent is key in these cases.
Regarding conspiracy, it involves an agreement between two or more persons to commit a crime. If the borrower and any other parties conspired to defraud your friend, this could also be grounds for conspiracy charges. Evidence of a plan between the parties to deceive your friend and misuse the loaned money would be necessary.
It's advisable for your friend to consult with a legal professional to review the details of the case and assess the possibility of pursuing legal action based on the evidence available. Legal advice can help clarify whether the actions fall under the categories of wire fraud or conspiracy under California law and what steps can be taken next.
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