Quote:
Originally Posted by ZakWray
The marginal note to section 1 of the Theft Act 1968 describes it as a "basic definition" of theft. Sections 1(1) and (2) provide:
1.-(1) A person is guilty of theft, if he dishonestly appropriates property belonging to another with the intention of permanently depriving the other of it; and "thief" and "steal" shall be construed accordingly.
(2) It is immaterial whether the appropriation is made with a view to gain, or is made for the thief’s own benefit.
Mis-appropriation - brings me back to my law days! Zak is basically saying that Bernd is treating the loaned money as if it were his own which is effectively akin to theft.
I hope you get your money back. I'm sure he has all intentions to pay you back but it shouldn't be his choice to gamble with your money. A loan that isn't paid back on time should be treated more as a staking arrangement than a loan. You shouldn't be left waiting for him to run up a roll to receive your money. That way he is effectively freerolling with your money and all you stand to get back is your original stake. All of the risk of a staking arrangement with none of the perks. Paying you back with interest will just take even longer to get back and I can't think of anything he can offer you to alleviate it ($5k is a lot of washed dishes!).
In all situations I've seen like this, as a staker with money invested (especially since there are a few of you) unfortunately you have to wait for him to run good to see your money again. You may even have to loan out more money to see a return on your first loan. It's a bit like getting a ball back that's stuck in a tree. Sometimes you have to use another ball to get it back, even if that also runs the risk of getting stuck.
I'd say first of all Bernd needs to be totally honest with his current status. Find out if he is busto, has some money, has some saleable assets, etc. Then you can think of the best way to get your money back. You have to ask him how he plans to pay you back. It isn't likely he's taken your money and you'll never see him again since this is his source of income. It's more likely he's a degen who's made a mistake. As such, he should be compliant with your requests. If he has some money, get him to use strict BR management and as a winning player you'll get your money back eventually. If he is confirmed busto, perhaps the three of you may have to stake $2k each or something and get him to play $60s or whatever as a group you choose so you are getting some money back. This option is bad at the minute since he is in hiding but if he had been honest and apologetic it would have been an idea.
If you did have to go for a staking option, he would need to be fully open with this and confirm all self-restrictions etc are in place. Monitoring this may be more effort than it's worth but it might be the only way you'll see a return. It's alarming he hasn't been in contact though - has anybody seen him at the tables recently?