This guy is trying to steal my business

[Jon Roberts]

California

I have owned a company for a little over two years, had it registered with the state in my name, built it up myself and filed taxes in my name. Everything has been in my name. About 5 months ago I started working with a man, who I made head of my business, the main manager. I didn’t realize at the time, but he is pretty much a con artist and was constantly trying to push his way into my business, so being naive because he was doing a great job I said we could meet with his attorney and talk it over.

A friend of mine and this man meet with his attorney and agreed to have some documents drafted up to review. I never received a copy of these documents to review and never signed off on anything. 5 months later, the man is not doing any work and has pretty much giving up on my company. I went to fire him and he came back saying he was part owner and I would have to buy him out. We never signed off on anything, he has never put any money into the company. I own 100% of the stock, have it all registered in my name and everything. All he has is a document that his attorney drafted up that we never signed off on.

Again the company has been in my name for 2 years, he just came in the picture about 5 months ago. I never signed anything giving this guy any ownership and never reviewed any documents he had written up. He is now claiming he is 50% owner and I owe him half my company.

 

[JETX]

He is now claiming he is 50% owner and I owe him half my company.

If it is as you claim (NO signatures), then simply tell him to leave your property. If he refuses, call the police. Once he is gone, change all locks and alarm codes.

 

[Antigone*]

California

I have owned a company for a little over two years, had it registered with the state in my name, built it up myself and filed taxes in my name. Everything has been in my name. About 5 months ago I started working with a man, who I made head of my business, the main manager. I didn’t realize at the time, but he is pretty much a con artist and was constantly trying to push his way into my business, so being naive because he was doing a great job I said we could meet with his attorney and talk it over.

A friend of mine and this man meet with his attorney and agreed to have some documents drafted up to review. I never received a copy of these documents to review and never signed off on anything. 5 months later, the man is not doing any work and has pretty much giving up on my company. I went to fire him and he came back saying he was part owner and I would have to buy him out. We never signed off on anything, he has never put any money into the company. I own 100% of the stock, have it all registered in my name and everything. All he has is a document that his attorney drafted up that we never signed off on.

Again the company has been in my name for 2 years, he just came in the picture about 5 months ago. I never signed anything giving this guy any ownership and never reviewed any documents he had written up. He is now claiming he is 50% owner and I owe him half my company.

You also need to make sure that all your banking records have been updated to remove him from your accounts if you have added him or given him access (deposit accounts, loans, line - all of it). Reconicle all you statements.

It is all too common for a business owner to give someone "the keys to the store" and then get taken to the cleaners a few months later.

It is good to have a system of checks and balances in your operations so that 1 person doesn't do it all. If months down the line a business owner finds that he has been "taken to the cleaners" through embezzlement and there is no system of checks and balances in place; the business owner has no one but themselves to blame.

Good luck to you - remember you are your #1 protector.