A partner who mortgages assets without permission does not constitute a crime, but should return the funds of other partners and cause losses to the rights and interests of other partners, and shall be liable for compensation. If you encroach on the funds of other partners, it also constitutes the crime of embezzlement.

legal ground

Article 99 of the Partnership Enterprise Law of People's Republic of China (PRC)

If a partner violates the provisions of this Law or the partnership agreement, engages in business that competes with the partnership enterprise or conducts transactions with the partnership enterprise, the proceeds shall be owned by the partnership enterprise; If losses are caused to the partnership or other partners, they shall be liable for compensation according to law.

Article 101

If the liquidator performs liquidation affairs and obtains illegal income or encroaches on the property of the partnership, he shall return the income and encroached property to the partnership; If losses are caused to the partnership or other partners, they shall be liable for compensation according to law.