Legal Question in Business Law in Ohio

Corporation-2 Partners-One is stealing Money

If two people are in business together equal partners, the company is incorporated. What actions can I take against the other partner for stealing money from the company. My partner has been literally charging all of his personal and household expenses and charging it off to the company expenses as well as the bookkeeper(his mistress) was doing the same. I just became aware of this three days ago. What should my next step be to protect the company, my employees and myself. I have contacted the accounting firm and I am meeting with them tomorrow. Our Corporate attorney said he cannot help me because he represents both of us. I am researching the area for a competent local atty. but I thought maybe you might have some quick advice on it.


Asked on 8/26/02, 4:17 pm

2 Answers from Attorneys
David Weilbacher, Esq. Attorney at Law

Re: Corporation-2 Partners-One is stealing Money

The corporation has a claim against the partner who is stealing. You have a couple of opions. 1) total the amount missing, and require the responsible parties to pay it back; 2) have the corp. file a lawsuit against the necessary parties, i.e. the partner and his girlfriend. If I can be of service, feel free to contact me.

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Answered on 8/26/02, 7:55 pm
Steve Chaffin Steven E. Chaffin, Attorney

Re: Corporation-2 Partners-One is stealing Money

I have been in this situation before. You must immediately file a lawsuit an seek an injunction freezing all assets both corporate and personal of the associate and his mistress. They probably have hidden many of the assets and it will be difficult to find these . get all records and have the court appoint a receiver to locate and account of all assets.

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Answered on 8/27/02, 7:44 am


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