Is it illegal in the state of Wyoming when incorporating a business to name a fictious individual as an officer of the company?
About 18 months ago, a family member has started his own business. I recently came across the incorporation paperwork and noticed that he has a listed someone as a VP with our last name. It would seem however that he invented a first name. Is that legal? No VP is required to incorporate; a business needs only to name a president and a treasurer. So what would be the incentive of making up a name for the VP?
This individual has sole access to his elderly father's funds and he used these funds to start this business (against the wishes and advice of the rest of the family). We consulted an attorney but we were advised that to that point, everything we knew about was "morally reprehensible but technically legal."
The phony VP is a new wrinkle. How concerned should we be?
About 18 months ago, a family member has started his own business. I recently came across the incorporation paperwork and noticed that he has a listed someone as a VP with our last name. It would seem however that he invented a first name. Is that legal? No VP is required to incorporate; a business needs only to name a president and a treasurer. So what would be the incentive of making up a name for the VP?
This individual has sole access to his elderly father's funds and he used these funds to start this business (against the wishes and advice of the rest of the family). We consulted an attorney but we were advised that to that point, everything we knew about was "morally reprehensible but technically legal."
The phony VP is a new wrinkle. How concerned should we be?