Q: What to do if you know the president of a closely held corporation is not following the laws of a corporation&embezzling
My father passed away in 2021 and left 2 companies to his 3 beneficiaries. Myself and my 2 siblings. My middle brother who is a Jr. has taken over the company, he pushed me to take personal leave and then never allowed me back into the company. We are equal owners with 38.5% shares, and my youngest brother who has 23% shares. The brother that is running the company has taken funds out of the company, has been using the company CC for purchases that aren't company related, has taken out loans for the company and made himself the only board member and President of the corporation through the ACC. He is not listed or able to be listed on the AZ ROC as his application was denied. He has recently stopped our paycheck due to financial hardship, he says, but hired a couple to come in and help manage the company for roughly 200,000/ yr. (for both) He did not allow me to come in and fill a position to continue to receive my paycheck, but hired his gf instead. Who resp. for the data entry.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
