Legal Question in Criminal Law in Louisiana

Can the chairman use company money to purchase jewelry and other items for his wife using company money. The company is owned by 3 people, the person spending the money has 40%, I have 40% and the other has 20%. I found out about these purchases looking at bank statements, and this has been going on for years and the money has never been paid back, and all he has to say is he can do it. This is a privately owned company with million dollar governmet contracts.


Asked on 9/02/09, 3:17 pm

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

Of course he cannot use company money to buy his wife gifts. Unless it is part of his compensation package. If your company has government contracts and funds received is being used for something other than what was contracted for, there is a chance the contracts could be in jeopardy.

Read more
Answered on 9/07/09, 3:29 pm


Related Questions & Answers

More Criminal Law questions and answers in Louisiana