Legal Question in Criminal Law in New Jersey

Corporation account
I had established a money market account to which I had transferred all excess money from our company's corporation operational account. In any case, when I acquired more businesses, I needed deposit money and borrowed money from the money market account. Our corporation consisted of 3 partners (I was 50%and 2 other partners were 25% each). Also, the money market account was created by me with their knowledge and I was the only one who had all access and full rights to it. Now, we sold the business on 12/4/07 and when it was time for reconciliations, the partners (only one who has 25%) has raised an issue with the money I had taken. I told him that I will return it as soon as possible, however, he wants to sue me and file criminal charges against me. What are my rights? How can I fight back when the account was under my control and they have no say. Also, I have agreed to put back whatever money they are entitled to. Please advise.

Asked on 2/10/08, 11:36 am

Gary Moore Gary Moore Attorney At Law

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Re: Corporation account

If you took the money with their knowledge I do not see how it was theft. For it to have been theft they would have had to have objected.

Call me if you like.

Gary Moore, Esquire

Hackensack, New Jersey

www.garymooreattorneyatlaw.com

Answered on 2/10/08, 1:38 pm

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