People v. Sobiek

30 Cal.App.3d 458 (1973)

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Nature of the Case

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Facts

A group of friends got together and organized the Empire Investment Club whose purpose was to invest money in second mortgages. Sobiek (D) was elected president. Each member invested $100 and then paid into the club $25 per month thereafter. D was eventually indicted for grand theft, and he moved to quash that indictment; a partner could not be subject to embezzlement for partnership assets. The state appealed.