Buying And Selling Stock Options

Glenn Slemmer was a successful options trader and consultant for investment clubs. One of these clubs was called Profit Design Group (PDG). Slemmer set up an account for PDG with a brokerage firm. He had control of the account and could make decisions about buying and selling stock options. He was not authorized to withdraw funds from the account for his own benefit, but he did so. Slemmer made misrepresentations to the club members about the account and eventually emptied it. Slemmer was arrested.  You are the judge in the case.  1. State the crime(s) that Slemmer is likely to be arrested and charged for? Explain your answer.  2. What are Slemmer’s likely defenses to those crime(s)? Explain your answer.