fiduciary abuse

Definition

A situation whereby a legally appointed individual is appointed to manage the assets of another individual and using this power in order to benefit illegally or unethically. This is often used by financial advisors or power of attorneys who borrow funds from the accounts of their clients to invest in speculative securities.

Use fiduciary abuse in a sentence

You should try to make sure that you are not doing any fiduciary abuse that may damage your reputation long term.

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There was some fiduciary abuse going on and it made everyone really upset and it made everyone feel really bad too.

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The state at which an individual is appointed to legally manage the property of another individual and uses this state to benefit illegally is known as fiduciary abuse

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