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Administrative/Regulatory

Mar. 22, 2011

Fiduciaries Face Oversight Questions

California fiduciaries have come under fire again after a recent scandal was exposed involving one of their own. Hundreds of thousands of dollars of clients' money was misappropriated and squandered at casinos.


By Pat Broderick


Daily Journal Staff Writer


SAN DIEGO - A recent criminal theft prosecution of a licensed fiduciary in San Diego County renewed support for close regulation of an industry that has had a history of problems.


The theft - hundreds of thousands of dollars of client money squandered at casinos by a fiduciary - was uncovered at the same time lawmakers are considering whether to shutter an agency created to supervise California's...

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