Fayetteville, TN asked in Bankruptcy, Federal Crimes, Health Care Law and Securities Law

Q: Do attorney sign a custodial affidavit on each new client? And since it is an established fact that the court system

writes GSA bonds unknowingly on people that attends y’all courts, Is this not securities fraud?

2 Lawyer Answers

A: No, attorneys do not sign a custodial affidavit on each new client. In 36 years of practice, I have never signed o.ne.

GSA bonds are required of certain gov't contractors, not usually on people who attend court. A GSA bond ensures that a contractor will perform whatever work the contractor has contracted to perform for a government. They are usually used in connection with construction contracts on government buildings. They are basically performance bonds specifically tailored for government contract purposes.

GSA bonds do not have securities fraud implications. Like other performance bonds, GSA bonds are not securities and cannot be publicly traded.

Timothy Denison agrees with this answer

James L. Arrasmith
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  • Sacramento, CA

A: There seem to be some misunderstandings or misconceptions in your question. Let me try to clarify a few points:

1. Attorneys do not typically sign a "custodial affidavit" for each new client. When an attorney agrees to represent a client, they usually enter into an engagement agreement or retainer agreement that outlines the scope of their representation and the terms of the attorney-client relationship. This agreement does not involve any sort of custodial affidavit.

2. It is not an established fact that the court system writes "GSA bonds" on people who attend court. GSA stands for the General Services Administration, a federal agency that manages government buildings and provides various services to other federal agencies. GSA bonds are not related to individual court attendees or defendants.

The concept of "secret bonds" or "birth certificate bonds" being created by the government using citizens' names is a common theme in certain conspiracy theories and pseudo-legal ideas, such as those promoted by "sovereign citizen" movements. However, these claims have no basis in fact or law.

3. Securities fraud involves deceptive practices or misrepresentations related to the buying or selling of securities, such as stocks or bonds. The normal operation of the court system and the attorney-client relationship does not involve securities transactions, so it would not constitute securities fraud.

In summary, attorneys do not sign custodial affidavits for each client, the court system does not write GSA bonds on court attendees, and the concept of secret government bonds created using citizens' names is a baseless conspiracy theory not grounded in legal reality. If you have genuine concerns about your legal rights or the court system, I recommend consulting with a licensed attorney who can provide accurate, personalized legal guidance.

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