Many business divorce cases start because one partner is improperly taking money from the business. Such behavior can come in many different forms, including a majority shareholder wildly overcompensating himself, running personal expenses through the business, or having family members on the payroll with a no-show job. » Read More
Previously on this website, I wrote about how a recession can help an unscrupulous business partner hide his fraud (Nov. 2008). For example, I explained that “tough economic times” can be used as an excuse to stop paying dividends or providing other financial benefits to minority shareholders. » Read More
When you are a small business owner, your business partner is often the closest person in your life, besides your spouse. Many would agree that if you suspect your spouse is cheating on you, he or she probably is. At the least, there is a major problem in the marriage. » Read More
You are involved in a dispute with your business partner, and your every instinct is telling you that, as a minority shareholder (or member, if an LLC), you are being treated unfairly by the majority. Dividends are non-existent, you are not being notified of critical meetings, and the money that you know the company is making seems to be unaccounted for. » Read More
Tough economic times can sometimes be used by one’s unscrupulous business partner to mask his fraudulent activities. In times like these, minority owners who suspect improper activity by the majority should be more vigilant than ever.
Often minority shareholders, especially those not intimately involved in the business, simply get used to receiving little financial information about the company. » Read More
When you suspect that your New Jersey business “partners” may have committed fraud, either on someone else or upon you, what steps should you take, and what remedies might you have? In New Jersey, certain steps often must be taken as quickly as possible, including retaining a forensic accountant who has experience in uncovering fraud and testifying in court. » Read More