Legal Question in Business Law in Texas
What law has been broken if an accout signer on a buisness account has taken all of the funds out of the account after surendering their Card and Checkbook and did not have permission to take the money?
2 Answers from Attorneys
Theft (embezzlement). Go to the police and see if they will help you.
I agree with Mr. Dunn that the best action you can take is to go to the police and file a criminal complaint for theft.
In addition to the criminal violation, you may have some civil remedies. This may include breach of fiduciary duty (if the account signer was a partner or other employee).
If you are a business, you may also have insurance coverage for employee dishonesty that may respond to your loss. Please check your policy and make a prompt claim with your insurer.
Good luck to you!
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