Is a fiduciary obligated to make good the full amount of losses caused by a fraudulent breach of duty?
MultiRegion, United States of America
The following excerpt is from In re Griesgraber, 56 BR 653 (Bankr. S.D. Cal. 1986):
Under California law, a fraudulent breach of duty is a tort and the faithless fiduciary is obligated to make good the full amount of the loss of which his breach of faith is a cause. Pepitone v. Russo, 64 Cal.App.3d 685, 134 Cal.Rptr. 709 (1976).
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