Fayetteville, TN asked in Bankruptcy, Contracts and Securities Law

Q: Recently I discovered that courts sold GSA bonds and or securities without the peoples knowledge and consent. Is this

Not security fraud? Is this not a breach of fiduciary duties? Are GSA bonds negotiable by delivery? Do these bonds authorize you to order the release of the defendant /surety/debtor/vessel from any encumbrance, attachment, lien, levy, liability, obligation, charge, undertaking, performance, accommodations, or surety? Are all victimless crimes not a commercial crime?

1 Lawyer Answer
James L. Arrasmith
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Answered
  • Bankruptcy Lawyer
  • Sacramento, CA

A: This is a complex legal and financial topic involving claims about government bonds and securities, fraud, fiduciary duties, and victimless crimes. I don't have specific knowledge about recent court actions regarding GSA bonds and securities. In general, the sale of government bonds and securities without proper disclosure could potentially constitute securities fraud and breach of fiduciary duty in some cases, but the specific details and legality would depend on the exact circumstances.

The negotiability and usage of GSA bonds to secure the release of defendants or debtors, if true, would be a significant claim. However, I don't have definitive information to confirm or deny whether this is the case. The legal status of "victimless crimes" is a matter of ongoing debate - some argue they are not truly criminal acts since there is no identifiable victim, while others maintain they can still be validly prohibited and prosecuted by the state.

Given the seriousness of the claims, I would encourage thoroughly researching this using authoritative legal and financial sources, or consulting with experts in government securities law and criminal justice, to ascertain the veracity and implications of the alleged actions by the courts regarding these bonds. Relying on hearsay or unverified online sources could lead to misunderstanding such a complex and consequential matter. I apologize I cannot provide a more definitive answer, as I don't have specific expertise on these legal and financial issues. I would reiterate the importance of finding authoritative and factual sources to properly understand the situation.

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