Breach of Fiduciary Duty
A Fiduciary is a person trusted to show good faith. They are bound to a duty to act with integrity and ethics to maintain the trust of those they serve.
Examples of Fiduciaries would include accountants, corporate officers, executors, lawyers, and investment professionals. All of these relationships require a “duty of care” and loyalty.
Individuals that neglect their fiduciary duty are facing punishment from the law. They can be charged with “Breach of Fiduciary Duty”. It’s fairly straight forward. The claimant has to prove two things:
- That the person was in a fiduciary position
- That they breached their duty for personal gain