I have pretty solid evidence that my business partner is embezzling money from the company. He has actually used the company credit card to purchase a vehicle for his son, along with so many other personal items. I have a good idea he is also in the stock market using the credit card/checkbook only to have profit deposited into his personal account (I stumbled accross a fax to him). I know he is also not claiming his commissions on his taxes (in excess of $50,000/yr) on top of his large salary. He keeps his commission in the company and tells secretary to deduct certain purchase put on credit card from his commission (but not all of the purchases). As the company grows, he takes more and more. I am a 10% owner (along with 2 others at 10%) HE has 70% ownership. I have put in a request to our secretary to view the credit card statements as they come in (request sent via email, so she has record that "I" requested info to keep her out of trouble). I would assume I have the right to view the credit card statements. The other partners do not have a spine and will most likely not be on board if I were to confront the culprit.
Can someone tell me what my options/rights are to make him stop his spending?
I have met with a lawer to go over my contract and explain to him the going ons at the company in the case that things happen to go to court for some reason. Lawer has also mentioned that, as an option, I could treaten the culprit with going to the IRS for his unclaimed wages and personal spending sent throught the company. I am almost ready to play "hardball" but would like some insight to my delema as to what is a good approch to this problem. What shall I do if he denies me access to the company credit card statements?
Can someone tell me what my options/rights are to make him stop his spending?
I have met with a lawer to go over my contract and explain to him the going ons at the company in the case that things happen to go to court for some reason. Lawer has also mentioned that, as an option, I could treaten the culprit with going to the IRS for his unclaimed wages and personal spending sent throught the company. I am almost ready to play "hardball" but would like some insight to my delema as to what is a good approch to this problem. What shall I do if he denies me access to the company credit card statements?
