Business Partners Double Dipping, illegal?

10-03-2009, 12:41 PM

marketingrep4u marketingrep4u is offline

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Join Date: Oct 2009

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Business Partners Double Dipping, illegal?

What is the name of your state (only U.S. law)? Tennessee

I am 1 of 5 business partners in a marketing firm set up as an LLC in Tennessee. I just found out, with proof in writing, that 2 of the partners have engaged in external agreements with customers in return for services offered by the partnership-based company. For example, they offered our services to a customer in return for a financial kick-back above and beyond what the customer would pay the company. They have set this up to receive additional payment from our customers beyond what the customer has agreed to pay the company.

Is this illegal?
Does this breach our partnership agreement?
Have they committed a crime?
Have they violated any SEC regulations/laws?What is the name of your state (only U.S. law)?

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