Old 06-30-2012, 07:17 AM
  # 6 (permalink)  
Buffalo66
Member
 
Join Date: Jul 2007
Posts: 1,175
i am not against going into a business partners account for this reason;
my colleague and i were unfairly ousted from our S corp by a different partner. there were six partners. he cited all kinds of reasons. we fought it and received our shares, plus an unfair termination settlement.
in the wake of what happened we came to learn that the financial mgr and partner in question had used 80,000( you read that right) of our corp money to pay off a debt he had incurred.
turns out, the business accountant had also been stealing money. he kept it all secret to cover his own scam. it was all eventually documented by a "email paper trail"
the fact that we were already contracted out left us w no recourse.
the reason he wanted us out? we asked questions.
i SHOULD have been monitoring those emails when he started his power play. we would have known everything. and they counted on my not doing that, which would have been legal, as i was an officer/ partner.
Buffalo66 is offline