In Fleck v. Perla (40 AD2d 1069 [4th Dept 1972]) the plaintiff had brought an action to recover trust assets and hold the transferee personally liable for the conversion of trust assets. In reversing the order dismissing the complaint, the First Department stated that "an officer or agent of a corporation is personally liable for his acts which constitute a conversion of the property of a third person" and that "it is no answer to such liability that the act was done while the officer or agent was acting for the corporation" (Fleck, at 1069). The court noted that in the event a jury found that defendant knowingly participated in the diversion of trust funds, or he should have inquired into the origin of the funds he received, defendant would be personally liable to the plaintiff for converting the trust funds.