Legal Question in Business Law in Ohio
My wife and I own a dance studio with another couple. Myself and the husband of the couple are listed as 50/50 owners on the LLC. We are supposed to put equal amounts of money in the business. I found out that he has been taking money out of the business account, falsifying the amount that his family pays for tuition, and charging personal items (concert tickets, Christmas gifts, phones etc.) to the company card. taking a 7k loan from the account, and repaying a week later. the total amount missing is about 12k. What should I do? What is the best way to confront him? What are my options?
1 Answer from Attorneys
Business disputes can be quite complex. There are many legal and factual issues presented by the scenario you describe.
You may want to consult with legal counsel so that he may interview you confidentially, review the relevant documents, and ascertain the important facts and occurrences. Legal counsel will then be able to provide you with a range of options based upon the specifics of your situation.
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