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    twchan1987's Avatar
    twchan1987 Posts: 2, Reputation: 1
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    #1

    Dec 2, 2008, 02:51 PM
    Owed money after Co-Owner of Company stole $50,000
    Hello,

    I worked as a sales manager at a small construction company in Silver Spring, Maryland. The market went sour (as happens a lot lately) and the two co-owners split ways, with one taking over. The co-owner (Don) that left had funneled nearly $50,000 of the company's money into a personal business. I am owed nearly $3000, but the current owner (James) claimed that he would pay me after he settled a lawsuit with his ex-partner (and re-claimed the $50,000). School tuition is going to be due soon, and I need to get at least $2000 of the $300 back. Don has been unreachable, and the lawsuit that James had with him is moving very slowly (I suspect not moving at all), and James says that the company has no money to pay me currently, and that he is not personally liable. What options do I have?

    Thanks,

    Tim C
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 2, 2008, 02:54 PM

    Sue the company, it may force the owner to find the money.
    twchan1987's Avatar
    twchan1987 Posts: 2, Reputation: 1
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    #3

    Dec 2, 2008, 02:59 PM

    I forgot to mention that he has several other creditors - he still owes the rent and utilities. The company itself has no money, and I think he is planning on letting it go belly-up. If this happens I imagine he isn't personally liable since it is incorporated, though.

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