Legal Question in Business Law in Louisiana

Money that was invested

My husband invested $25000 in a company which he was promised he would get back in two years. He was basically a co-owner of a well-known coffee shop in New Orleans which the primary owner said was very profitable, even since hurricane katrina. Over the past month he found out it hadn't been profitable since Katrina hit and the owner has said he wants to shut down the store and he is not willing to give back the money. He has since cut my husbands pay in half and has told other employees that my husband will be being replaced by other people who have not invested money in the company and they will be doing the same thing as him. From what I understand, this would be considered embezzlment, but without any kind of written agreement, how is it possible to pursue this. There is a paper trail of where the money came from and where it has been placed, and maybe with the idea of all the false pretenses that were given to myhusband, something may be able to be legally pursued. Anything you can tell us on how to better our situation ill be greatly appreciated. thank you .


Asked on 11/30/07, 1:27 pm

1 Answer from Attorneys
Nick Pizzolatto, Jr. Pizzolatto Law Office

Re: Money that was invested

It is a he-said, she-said situation. Since nothing was in writing, how can a court determine who is telling the truth? Unless you have other non-interested persons who will coroborate you husband's side of the story, you may be out of luck. If you can prove what the agreement was, then sue him.

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Answered on 11/30/07, 1:50 pm


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