Hello all,
This is for New Jersey or Pennsylvania
Looking to setup a corporation with another person. However there are many obstacles that I need to overcome. Currently the 2 people who are trying to form the corporation are 2 convicted felons currently on probation for 3 years. Federal law states that 2 felons cannot be in a business together while they are on probation, however if felon #1 wants to do work for felon #2's company that is permitted. Another obstacle is each of the people has millions of dollars in restitution that needs to be paid back. So if the company is in there name the fines will be raised. Is there a way we can form 2 corporations one for each felon. Have it setup as a corporation, where each felon owns shares of stock in each company but never officially fills out the stock certificates untill probation period is over, so that technically nobody owns the corp's. Then assign another individual to be the banker of the business and handle all the check and wire transfers of the company. Then transfer the appropiate funds back and forth to each other's company? Is this legal to to, any help is appreciated. If you understand what I am talking about or can help I am willing to pay for advice. Thank you!
This is for New Jersey or Pennsylvania
Looking to setup a corporation with another person. However there are many obstacles that I need to overcome. Currently the 2 people who are trying to form the corporation are 2 convicted felons currently on probation for 3 years. Federal law states that 2 felons cannot be in a business together while they are on probation, however if felon #1 wants to do work for felon #2's company that is permitted. Another obstacle is each of the people has millions of dollars in restitution that needs to be paid back. So if the company is in there name the fines will be raised. Is there a way we can form 2 corporations one for each felon. Have it setup as a corporation, where each felon owns shares of stock in each company but never officially fills out the stock certificates untill probation period is over, so that technically nobody owns the corp's. Then assign another individual to be the banker of the business and handle all the check and wire transfers of the company. Then transfer the appropiate funds back and forth to each other's company? Is this legal to to, any help is appreciated. If you understand what I am talking about or can help I am willing to pay for advice. Thank you!