Do I have a case against my business partner for embezzlement?
I can prove that in the last month alone my business partner has taken over 1000 dollars for his own personal use. He also has prior convictions for theft of property and writing fraudulent checks. Would I have a very strong case against him and would I be able to get him possible jail time? The 1000 dollars that I can prove is what I believe is the tip of the iceberg. Any help would be greatly appreciated.
Arnie
Update:Our business is set up as an Scorp and we are located in Illinois. The reason for starting a business with the individual is due because they are family. They were clean of offense for many years and someone I personally trusted.
Comments
If you can prove he took the money from the business and used it for his own purposes then yes you have a case against him for embezzlement and if conivcted he will have to pay it back..
However since you believe that the $1000 is just the tip of the iceburg and he has taken a lot more money that you dont know about then it might be in your best interest to have the business records audited by a forensic accountant and get a grand total on what is missing and/or unaccounted for then make the charge of embezzlement for the total amount.
A Forensic Accountant is part investigator, part auditor, part attorney and part accountant and they specialize in tracking down where every penny went and who spent it or took it.
Depends on what you mean by partnership. What if any formal documents have been filed? Pursuant to what kind of arrangement? If you're inc'd, the rules are quite different. Check the laws that apply to the kind of partnership you have where you live. That's really all anyone can suggest wo more info. Cops don't enforce what are considered private business disputes which this is.
Why would you be in business with a person who has prior convictions for theft and fraud?
They have these people, you may have heard of them. They are called POLICE, and they deal with criminal acts.