Q: my business partners withdrew 155,000 dollars from our corporate bank account
they then deposited the funds in a personal acct with just their names and without my knowledge. I am in Tennessee
A: Lot of things you can do here. First you should in writing demand that they return the company's funds. The partners will avoid a lot of problems if the funds are returned. You can contact the attorney general for your county as to a potential criminal prosecution. The entity can also sue for return of the funds- and if the entity does not pursue a claim you can file a derivative claim on behalf of the entity. Also, you may have issues with your bank- were the correct signatures on the check? Was there a forgery? It is important to communicate / make a claim with the bank as quickly as possible.- you only have a short window in a claim as to the bank.
1 user found this answer helpful
A:
Sorry, but you question does not contain enough information to advise you on this situation. You use the word "partners" but that could mean more than an actual partnership ( co-owners of a corporation or LLC).
This is clearly more than can be dealt with in this question-answer format, so consult an experienced business lawyer asap. If the withdrawal was not authorized, this might be a criminal offense ( theft) so perhaps you should report it to the police. Get a lawyer first thing.
1 user found this answer helpful
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