7 Guam Code Ann. § 50454
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Terms Used In 7 Guam Code Ann. § 50454
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Fraud: Intentional deception resulting in injury to another.
No debt created by the fraud or embezzlement of the debtor, or by his defalcation as a public officer or while acting in a fiduciary capacity, shall be discharged under this Chapter, but the debt may be proved, and the dividend thereon shall be a payment on account of said debt. No discharge granted under this Chapter shall release, discharge, or affect any person liable for the same debt, for or with the debtor, either as partner, joint contractor, endorser, surety, or otherwise.
SOURCE: CCP § 1368.