Boss embezzled without other owners knowledge

[tbob69]

What is the name of your state? AR

I have a boss who embezzled alot of money and the business (ambulance service) was going to close the next day. The minority share owner (60-40 split) had no knowledge about anything going on and stepped in at the last moment to save the company by using money from his personal savings account. Since then he took over. He found out that she was stealing medicare money meant for the company and had mortgaged every ambulance, vehicle and even the building without the knowedge of the other owner. Can she do that without letting him know. This is serious, because she stole medicare and medicaid money, pocketed the money withheld from employees checks for taxes and wrote off stuff that was done for personal use as business expenses.

After all was said and done, she also went behind the other owners back and sold her majority share to another company.

What can he do?

Thanks;

tbob69

 

[HomeGuru]

What is the name of your state? AR

I have a boss who embezzled alot of money and the business (ambulance service) was going to close the next day. The minority share owner (60-40 split) had no knowledge about anything going on and stepped in at the last moment to save the company by using money from his personal savings account. Since then he took over. He found out that she was stealing medicare money meant for the company and had mortgaged every ambulance, vehicle and even the building without the knowedge of the other owner. Can she do that without letting him know. This is serious, because she stole medicare and medicaid money, pocketed the money withheld from employees checks for taxes and wrote off stuff that was done for personal use as business expenses.

After all was said and done, she also went behind the other owners back and sold her majority share to another company.

What can he do?

Thanks;

tbob69

**A: he can take a proactive stance and hire an investigator and attorney.
And by the way, he's no businessman.

 

[tbob69]

boss embezzled

He already has done that, but the attorney he has right now doesn't normally do corporate law. I think it's his divorce attorney. He has all the proof in forms of cancelled checks, company credit card receipts from the casinos, etc.

As for him not being a business man, I agree - if he wins a case, he needs to hire someone to run the day to day operations.