From our private database of 33,600+ case briefs...
Central Trust Co. v. Shepard (In re Shepard)
United States Bankruptcy Court for the Middle District of Florida
29 B.R. 928 (1983)
Shepard (defendant) ran a fraudulent scheme in which he obtained credit-card authorizations for $5 for the purchase of record albums and altered those authorizations to read either $50 or $250. Shepard opened a merchant account with the Central Trust Company (plaintiff), which permitted Shepard to receive instant credit for the authorization slips delivered to Central each day. Central became suspicious because Shepard made suspiciously large withdrawals from the account, and the United States Postal Service began investigating separately. Shepard’s secretary generally made the deposits and cashed checks. Shepard disappeared and left instructions for his secretary to cash three checks in the amount of $10,000 each. The secretary was instructed to leave the money in a specific filing cabinet in Shepard’s home. Later, a United States Postal Inspector searched Shepard’s home while executing a search warrant. The inspector found $28,440 in cash inside the home, which was still wrapped in paper wrappers used by Central. The paper wrappers were also dated and stamped by Central bank tellers, and the dates aligned with the $30,000 in checks cashed by Shepard’s secretary. In total, through this scheme, Central lost $239,954.91. Shepard filed for bankruptcy, and a bankruptcy trustee was appointed. Central filed a request in the bankruptcy proceeding to impose a constructive trust on and obtain the cash found at Shepard’s home.
Rule of Law
Holding and Reasoning (Proctor, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 603,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 603,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 33,600 briefs, keyed to 984 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.