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The Screwed over investor
Guest
- Jurisdiction
- California
About 5 years ago, I invested in a nightckub/restaurant. Very profitable, but one by I one the initial investors started to be bought out by a small group of investors (who also happens to be related as it turns out). Classic closely held corporate freeze out.
Problem: About two years ago, I was the last initial investor left, besides the group that was doing the freeze out. Having some legal training, I understood fully what was going on and planned on a divivitive suit, movement for Corp disillusionment, etc. Based on fact that, in an effort to pressure me out, they simply stopped my monthly disbursements.
Issue: despite not receiving my disbursements, over the last two years these clowns filed fraudulent 1099s stating that I was paid in full and they wanted to 1) keep my disbursement and, 2) make me pay taxes on the amount (which is substantial).
Question: I settled for my initial investment back in exchange for my release. Then, before any papers were signed, the lowered their offer to 50% of that amount. I will never take that amount in return for my dismissal.
How do I leverage the tax issue (filing returns like I had been fully paid when I haven't for two years)? Is there any tax gurus out there that are sick of this moral terpitude issues in corporate law that could steer me in the right direction?
I could go all in an initiate a litigation, but really just want my deal, that we agreed on and that I commemorated our agreement on a fax to their attorneys. But I won't pay taxes on money they knowingly withheld to try to get me to sell my shares for below market value. Thanks in advance.
The Screwed Over Investor
Problem: About two years ago, I was the last initial investor left, besides the group that was doing the freeze out. Having some legal training, I understood fully what was going on and planned on a divivitive suit, movement for Corp disillusionment, etc. Based on fact that, in an effort to pressure me out, they simply stopped my monthly disbursements.
Issue: despite not receiving my disbursements, over the last two years these clowns filed fraudulent 1099s stating that I was paid in full and they wanted to 1) keep my disbursement and, 2) make me pay taxes on the amount (which is substantial).
Question: I settled for my initial investment back in exchange for my release. Then, before any papers were signed, the lowered their offer to 50% of that amount. I will never take that amount in return for my dismissal.
How do I leverage the tax issue (filing returns like I had been fully paid when I haven't for two years)? Is there any tax gurus out there that are sick of this moral terpitude issues in corporate law that could steer me in the right direction?
I could go all in an initiate a litigation, but really just want my deal, that we agreed on and that I commemorated our agreement on a fax to their attorneys. But I won't pay taxes on money they knowingly withheld to try to get me to sell my shares for below market value. Thanks in advance.
The Screwed Over Investor
