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If the business is 51/49, does the 51 owe all of the debt and how to fight a conman?

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bricolo

Junior Member
Louisiana

I met this man last November, he was trying to start a radio station, a Part 15 AM Radio Station and run it as a profit business but it had just fallen apart, I believed him as his partner never showed up or answered calls, I had signed on to be an employee as a DJ. Anyways me and this fellow became good friends, or so it seemed and I set forth to help him get this station started with someone else.

I invested a lot of time though I was just to be a DJ. He told me of his past, that he was British born and he owned a station that he lost in Katrina, he said this station was worth millions and he had owned it for 14 years. He said he was rich before and lost everything, that he helped give people chances and breaks and that he was respected everywhere he went. He told me loads of personal details that I will not get into but I now know, from confirmation by people that knew him before and his sister that all of this was lies. All he was was just a pirate that operated out of his aunt's house and he never owned anything, he has lived off of people all of his life. For the matter he has been living off of FEMA since the storm and I think he is conning them.

Well, anyways, though I was doing a heap of work, he did not want me for a partner, he always spoke of this woman that was his VP with great respect, he said she stayed with him until the last minutes of the storm removing equipment and that she had been made rich from his station, had an expensive car and house, the works. Well I helped him find her and no sooner than I got a confirmation it was her on the line he yanked the phone out of my hand and she was in as VP. He set it up to where she owned 51% of the company and he owned 49% of the company, though she was in another state and my access to her was limited.

Time went on and though neither of us had a car I lent him money to buy one so we could go see her, I was working at a grocery store, it was my savings. More time passed and I got a settlement from a car wreck, 11000, this plus some more money went into the company as an investment of which I have an agreement that the company would pay me back with a year 13000 plus 50% interest, this agreement the VP made happen, the p was reluctant but went ahead. We went to see her a few times and without my knowledge he showed her pictures of himself and proceeded to describe how he it turned him on sexually, he also did pull on her nipple ring, through her clothing. She was emotionally disturbed by this but tried to go along with the business. When she came to town on our "launch day" she saw how this thing was not happening, how he was not working, how I and 2 other employees were doing all of the work and how he doing nothing except sowing discard and suspicion amongst us. He wanted the business to be ineffectual, I do not think he expected it to get so far.

As far as it goes the transmitter and antenna which he guaranteed to advertisers made at least 10 miles, would only go a few blocks and from experts, in the best situations could only make around 2 miles. I could vaguely see how this as a business could have worked but he had nearly 20 employees lined up for work and no advertisers biting. He mismanaged the business, he hid the receipts, by the by at this time I was made manager but he wouldn't actually let me do anything but go get him a coke at the corner store. Any equipment purchased was antique and done from my bank account, not the company's bank account which had 10 dollars in it at the time it fell apart and now is over drafted.

Come to find out, the VP was only involved with trying to start a station in his old locale but left it a year or so before the storm, she was not with him the "final minutes" of his last station, there never was another station. One of the reasons she left was because he sent her some dirty letters. She decided to help him again out of sympathy for his life not being together and he had promised that that stuff he did was all in the past.

Now he has left her with all of the debt, and me without my money and though there were a number of employees lined up, it fell apart before many of them started, it is just down to me and two others. We do not want to give her more debt. He has told me that he owes nothing, she owns 51% so she is responsible for that debt, he isn't. Is that true? I and the other 2 employees wouldn't go after her but we want to go after him. I am trying to get her to a lawyer however we are all dead broke. As it stands I personally have no car, no food, my electricity and water will be shut off in a day or two and I can't seem to find a new job. Everything is broken, this man has done it to me, he has taken advantage of a lot of people before and around me.

Also, I am confident he is taking advantage of FEMA andI know they are paying for a place he lives and he has guests living there he shouldn't. This is also breaking the rules. I want to make him hurt and suffer some way that is legal and within my rights but I do not want to go after the VP along with him.

What are we to do? Is she solely responsible for the debt? Is he responsible for any of it? Couldn't I say she and I have come to an agreement about her responsibility of her 51% of her debt to me and go after him for the rest? As to the debt to others, aside from the other two employees, there are legal, electrical and bank fees that are not giant but around 1500 which is still a giant chunck of change to her. Should she dissolve the company? Do all debts need to be paid to dissolve?

Someone told me to go go to the cops. If I go to the cops, what should I say, what type of paper work should I bring, if I can find any?

Also, about taxes and filing them for the company, the financial records are all lost, can she write this off on her taxes with little record as to what money went where and the same for me. All I have is a contract about the money owed.
 
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Antigone*

Senior Member
Sorry but your post is way too long to read all the way. I stop at the part where you loaned the guy money and he signed a contract with 50% interest.

Bad news buddy ~ that contract is not enforceable. Google the word usury.
 

bricolo

Junior Member
He came up with that amount. Does it still serve as proof that I lent him 13000 and that he owes that much?
 

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