What can happen ifI pawned an item that was given to me a security for a debt and I lied about ownership on the pawnshop paperwork?

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What can happen ifI pawned an item that was given to me a security for a debt and I lied about ownership on the pawnshop paperwork?

My roommate gave me her Ipod as payment for money that she owed me. I pawned it a few days ago and she reported it stolen. A detective talked to me over the phone. I put on the pawn receipt that it had been owned for 2 years. I was told by the detective that by putting that on there I had committed a felony.

Asked on September 21, 2010 under Criminal Law, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Ok, hold on.  Did she give it to you as security for the debt - as I understand that to be as a "marker" of sorts that she is going to pay you later so hold on to it now;or as satisfaction of the debt - meaning in place of the debt and she would not have to repay it after that?  Then it was not hers it was yours (although it seems that she thought otherwise by reporting it stolen).  Because of the reporting it stolen I am leaning toward the security rather than the satisfaction and then you not only committed some form or crime but may be liable for conversion of an asset of another in what is known as a bailment situation.  I would seek legal counsel in your area as soon as you can.  Good luck.


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