Missouri | Business Law
Legal Question
I am one of two partners in an LLC that owns a property management company. I am a real estate agent and my license is responsible for the LLC per MO Real Estate Commission. Have been in biz 3 yrs. My partner runs biz and responsible for all bookkeeping. Has never indicated any problems with handling bookkeeping duties. Recently audited by Real Estate Comm which found our checking acct was $40000 short. Most appears to be accounting errors - not handling sec deposits correctly, paying owners for checks that went bad, owners owe us money, etc. I was shocked. And then found out she has $13000 in her house from when we first started because she could not figure out how to handle the returned checks in the computer. Some of this money is money orders which are no good. Biz has dwindled greatly over last year and 5 owners this week say they left because she did not return calls, emails, mail checks to them on time. I am personally on the hook for $45000 that I can not afford to lose. I do not want to be responsible for replacing any of the money orders that I had no idea were at her house, any of $40000, the cost of accountant we have hired to repairs books, etc. $20000 of my $45000 is money I owe to former owner. I also want to sue her neglect of company which has destroyed asset. I am concerned about losing my real estate license. It is how I provide for my children and self.
Share This On:
Legal Answer
|
Read More Answered By: Sean Santoro |
|
|
