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Employees took $100,000!

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S

SRoyce

Guest
What is the name of your state? South Carolina

I am helping a friend audit his business checking account where he invested over $100,000 in a business. The employees were drawing what appears to be double paychecks each week under "expenses" and "payroll". Is there any legal action we can take that I could recommend to my friend on how to pursue this?
 


I AM ALWAYS LIABLE

Senior Member
SRoyce said:
What is the name of your state? South Carolina

I am helping a friend audit his business checking account where he invested over $100,000 in a business. The employees were drawing what appears to be double paychecks each week under "expenses" and "payroll". Is there any legal action we can take that I could recommend to my friend on how to pursue this?


My response:

Yes. You could recommend to him the following:

"Hey, pal, you're being screwed from one end to the other. How about seeing an attorney?"

IAAL
 
S

SRoyce

Guest
gee thanks for the "free" advice. I guess you get what you pay for. I'll be sure to delete this from my favorites. As for the attorney, we already hired one, just wanted to do some research on what direction they might take. Maybe you hadn't heard but research does help
 
K

krispenstpeter

Guest
Royce, how do you expect someone from an internet forum to guide you in something as complicated as forensic accounting procedures when the payroll and accounting ledgers are not in front of us?

How do you expect an informed opinion when we don't have a copy of the employment contracts to study?

Really, you're asking questions based on a very thin statement that your friend invested $100,000 and that the money is being used by the business.

Were there conditions on the investment?
What does the company say as to the distribution of the funds?
Was/is there a partnership agreement in place that restricts the distribution/use of the funds?

You have an attorney. Let him/her do the legwork that no one can do from a computer screen.

Siimply put, an investment of monies into a business is not, in and of itself, illegal regardless whether that money is used to pay empoyees or strippers.
 

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