Legal Question in Criminal Law in California

Promissory Note - Fraudulent Security Interest

I loaned a person money with a

security interest in three high value

men�s watches (rolex) with me

having possession of these

watches. The loan is currently in

default of the payment obligations.

So, at this point I went to have the

watches appraised and learned that

one of the watches was fake, one

was real, and one needs more

analysis. Question: Is there

criminal fraud in this situation or

some other civil breach of contract?

Or both?


Asked on 6/24/09, 3:47 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Promissory Note - Fraudulent Security Interest

You can sue for your money, and you can claim in your suit that the security was phony. But, the police are not likely to be interested enough in this case to file charges; you can try them though. If you decide you are serious about getting counsel to file suit, feel free to contact me.

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Answered on 6/24/09, 6:30 pm


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