What can I do if my business partner tries to scam me?
I invested $6000 for 10% share of my friend's new company. He is not operating or do anything for the company. The company is not running. I want out. How can I can my investment money back?
The realisation that your business partner is stealing, whether it is from you, your clients or your business, is a huge shock and let down to anyone running a business. The activity could involve misappropriation of money, physical items or intellectual property. You can seek civil court action to recover any losses, including where your partner has made the business liable to a third party. Stealing from the business or a partner will be treated by the civil court as a breach of director’s duties. Your partner’s behaviour can also be viewed as potentially criminal activity; which will amount to either fraud or embezzlement. Embezzlement is the term given when money has been taken from the business for the personal use of one or more partners or members of a company without the knowledge and consent of the remaining members or partners. The legal definition of fraud is deliberate deception of someone for personal gain. The question of whether to commence proceedings against your partner in either the criminal court for fraud or embezzlement or the civil court (or both) can depend on a wide range of complex factors and issues relating to specifics of the case. It is highly advisable to instruct an expert fraud solicitor who can guide you in the right direction to get the best possible outcome. You can read more about the pros and cons of pursuing in the criminal court here. A crucial point is that criminal proceedings will not necessarily recover your money for you. Speak to one of our expert solicitors as soon as you suspect your partner is stealing from you and we can advise you how best to proceed to ensure your interests are looked after.
I am so sorry to heard about your trouble, and yeah even if its ur friend u cannot think of him as a person that worth 100% of ur trust. But lets go straight to the point.
Based on my exp, u can do a few things such as :
1. If u make an :
-A notarial deed,
-or any of that (even only one is still fine)
Try to contact ur lawyer and discuss this thing. I believe actually u can bring this case to your District court.
2. Try to talk to him, overall he is ur friend, even this thing got a low chance to bring back ur money, its still worth to try to persuade him i think.
3. If ur effort is failed, and u discuss this thing already with ur advocate/lawyer, please collect as many as possible things that related with u and him when u guys decide it to make a deal in "working together", it can possibly be a :
-Letter of agreement,
-A notarial deed
-or anything related.
U can bring this matter to ur local court and litigate this thing, u can report his action that disadvantage u, and generally violence ur rights. And all of thing that i just mention it to you would be the evidence if he is violence ur rights that caused u disadvantage both moral and material.
Further more, if you have any, or one of these :
-or Any body
Whose present when both of u make an agreement of this thing. Try to contact he/she after u make a report about ur friend. Since in front of the judge, they will ask u whether u have a witness or not, and if u have any they will ask ur witness as a comfirmation of ur evidence and a comfirmation that this thing is really happened and not a false report, false accusation, or even slander towards ur friend, and even to confirm that u Really Are a victim in this case.
-last but important, different country have different regulation, please have a look at ur Statute first. Or ask ur lawyer.
God bless u.
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