What is the name of your state? IL
I worked at a corporation. I was verbally promised by the president of the corporation ownership interest in the corporation and its assets. I was told we needed to have funds on deposit, government regulation, for the corporation. We got a loan, personal note, from a family member of the president of the corporation. The loan was to be paid back from the corporation within a short period of time, that was 3 ½ years ago. I quit / was fired from the corporation. I had spoken with the family member about signing a personal release for me. He was going to sign, however before he did, he spoke with the president of the corporation. The president instructed him to not sign. The family member told me not to worry about having the release signed I wouldn’t have any problems. My belief is the account is settled in full. My name and the president’s were on the account in the corporation’s name we were to keep on deposit. I believe that was a lie to me to have me agree to sign the promissory note, and possible get the family member to lend the money. I checked the account. All the funds were transferred into the president’s personal bank account or cashed out by the president. I didn’t take a penny of the money. The president has a personal note with me as well and he claims if I try to collect he will counter sue me. I believe, but I don’t know if this family member loan was paid off. If the money was to be used for government regulations hasn’t he committed fraud with the government? Or with me by having me agree to the loan? Hasn’t he embezzled money from the corporation? I have copies of the withdrawal slips and transfer into personal bank account signed by him. Has he committed blackmail with me by treating me? If I collect on a note that is payable to me he will sue me with an -- illegal fraudulent-- loan that he embezzled the funds and is most likely already paid off.
I want to be released from liability of this loan. How do I do that?
I worked at a corporation. I was verbally promised by the president of the corporation ownership interest in the corporation and its assets. I was told we needed to have funds on deposit, government regulation, for the corporation. We got a loan, personal note, from a family member of the president of the corporation. The loan was to be paid back from the corporation within a short period of time, that was 3 ½ years ago. I quit / was fired from the corporation. I had spoken with the family member about signing a personal release for me. He was going to sign, however before he did, he spoke with the president of the corporation. The president instructed him to not sign. The family member told me not to worry about having the release signed I wouldn’t have any problems. My belief is the account is settled in full. My name and the president’s were on the account in the corporation’s name we were to keep on deposit. I believe that was a lie to me to have me agree to sign the promissory note, and possible get the family member to lend the money. I checked the account. All the funds were transferred into the president’s personal bank account or cashed out by the president. I didn’t take a penny of the money. The president has a personal note with me as well and he claims if I try to collect he will counter sue me. I believe, but I don’t know if this family member loan was paid off. If the money was to be used for government regulations hasn’t he committed fraud with the government? Or with me by having me agree to the loan? Hasn’t he embezzled money from the corporation? I have copies of the withdrawal slips and transfer into personal bank account signed by him. Has he committed blackmail with me by treating me? If I collect on a note that is payable to me he will sue me with an -- illegal fraudulent-- loan that he embezzled the funds and is most likely already paid off.
I want to be released from liability of this loan. How do I do that?