Corporate Law Seeking direction

[Rooster79]

Jurisdiction

Florida

I am a minority owner in a s-corp business with a partner who has gotten greedy and is out for himself at all times. I am very well aware I have almost no rights as a minority stock owner (10%).

When reviewing the accounts and books I've noticed my partner lives off the business charging away dinners, groceries, wine stores, pretty much anything legally tax deductible. Recently I've notice loans to family members and raises in him and his wife's pay. I receive no dividends and I'm usually not allowed to freely view the books even though I have some access to bank records and p and s statements.

Is there anything that would be considered a break in fiduciary duty on his part?

 

[adjusterjack]

Is there anything that would be considered a break in fiduciary duty on his part?

Probably everything.

Get yourself a lawyer or get out or nothing changes.

 

[army judge]

The IRS is very interested in the alleged activities you've observed.

The IRS rewards tipsters handsomely for useful information.

 

[zddoodah]

Is there anything that would be considered a break in fiduciary duty on his part?

Yes. Almost everything you described is or could be a breach (not "break") of the majority shareholder's (not a "partner") fiduciary duties.