Legal Question in Business Law in Minnesota

embezzlement

I have been investigating my business partner for embezzlement and found that she transfered over 10000 into an old but still open checkin acct. and from there transfered most of that cash into her personal acct. She did this while still drawing a salary from the business but the money she transfered was from a line of credit that was secured by my home. I believe she declared it on her taxes but did not notify me of the transactions. When I confronted her about it she says she took it for all the work she has put into the business. The line of credit was not obtained for personal use but for business use. This all occured in 2001,but did not come to my attention until 2003.Is this a prosecutable offense of fraud/embezzlement. We are an LLC operating solely in Minnesota.


Asked on 1/07/04, 8:04 am

2 Answers from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Re: embezzlement

Perhaps, but the civil authorities will often decline to prosecute when the party in your position has a civil remedy. Call the fraud and frogery section of your local police department.

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Answered on 1/07/04, 6:20 pm
Maury Beaulier Attorney at Law

Re: embezzlement

You may be required to proceed civilly seeking to sue your business partner for a breach of Fiduciary Duty, Fraud, and a myriad of other claims.

For a consultation visist us at http://www.hjlawfirm.com or call 952.746.2153

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Answered on 1/08/04, 10:40 am


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