Illinois  |  Tax Law

Legal Question

Asked on: 7/09/13, 1:13 am

I am a contractor. My business partner has been brought up on charges on a non-business related case. I am being sought to speak up for him in court. How can I not, he is my business partner? He will go down for his crime withoutout my testimony. Without him the business may not survive. We are not young, and been through a lot together. Even though we have been partners for years, there are skeleton's in the closet. in poking around found out some quite shocking things. Figuring that a tiger does not change its stripes, I turned inward. Suspicions I had for a long time started coming together. Example would be daughter 2 years out of college, with an average job, buying a Lexus. Found a 4 digit assist from daddy. We are also a government contractor. Can not afford to lose that business; although not really profitable, it is cash flow, keeps payroll going, etc. I don't remember any business partner liability clause in the insurance, but have to call my agent. We have an accountant do the taxes. What I am afraid of is "your the partner, you should have known..." and I getted hooked in this. I would like to answer honestly, but a simple "Have you ever known your partner to ever commit a crime or an act of wrongdoing?" and its over. At the time that he committed what he is being accused of, I did not have any knowledge of wrongdoing. If he is convicted, I feel the sharks will be circling. Many families at stake here. If I could figure this out, so could someone that really knew what they were doing (tax auditor for example). How do I honestly answer the wrongdoing question?

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