Good Ending to Gambling Spree Is Unlikely

Real life is rarely like the movies, when it comes to trustees.

When someone gambles with other people’s money in real life, it is far different than various films that show happy endings. This is because the results are usually different and severe, according to the Sacramento Bee in “Woman accused of cheating trustees, spending their money on Vegas gambling trip.”

A Sacramento woman was acting as a fiduciary of a trust that owned a piece of real estate. She sold the property for $300,000. That money was supposed to go to the beneficiaries. However, she only gave the beneficiaries $30,000 and kept the rest for herself. She used the money to pay off debts and go gambling in Las Vegas.

Trustees, of course, are handled differently than fictional Hollywood stories. Trustees have legal duties and, if they do not fulfill those duties, they can face criminal punishment. If she is convicted, the woman faces up to 20 years in prison.

Reference: Sacramento Bee (May 30, 2018) “Woman accused of cheating trustees, spending their money on Vegas gambling trip.”