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person of money". Cal. Pen. Code sec. 484 (West 1988).
Petitioners claim that Robert advised Mrs. Leonard that by
having access to and using lines of credit he would be able to make
profitable investments in his capacity as a stockbroker with
Prudential Bache. Petitioners contend that Robert obtained the
money under false pretenses because he did not invest the money on
Mrs. Leonard’s behalf, but rather, intended to repay her only the
principal. Petitioners posit that Robert made the offer because
prior to 1983, Mrs. Leonard "was experiencing personal financial
difficulties due to outstanding obligations which she had incurred
from her schooling and opening her private law practice".
The evidence shows that it was Robert, not Mrs. Leonard, who
was having financial difficulties. Mrs. Leonard prepared a
personal financial statement in July 1982 that listed total
liabilities of only $33,400. In 1981 petitioners’ gross income was
$77,671, and in 1982 it was $73,026. Petitioners had a gross
income of nearly $120,000 in 1983. We believe it unlikely that
Mrs. Leonard could have obtained $200,000 in bank credit, half of
which was unsecured, if she were experiencing financial
difficulties. On the other hand, Robert and Suzette did have
financial difficulties; they filed for bankruptcy in 1981.
In 1982, Mrs. Leonard obtained a 2-month, $75,000 bank loan
and provided the proceeds to Robert in order that he could clear
mechanic’s liens on the flower shop property, which he was
developing. Mrs. Leonard admitted that she did not expect to make
money on the transaction. After Robert’s check to repay the bank
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