Fraud

4Fraud by abuse of position

1

A person is in breach of this section if he—

a

occupies a position in which he is expected to safeguard, or not to act against, the financial interests of another person,

b

dishonestly abuses that position, and

c

intends, by means of the abuse of that position—

i

to make a gain for himself or another, or

ii

to cause loss to another or to expose another to a risk of loss.

2

A person may be regarded as having abused his position even though his conduct consisted of an omission rather than an act.