South Carolina  |  Business Law

Legal Question

Asked on: 7/12/05, 8:42 am

Just discovered the books were cooked in a business we are leasing

My husband and I were offered to lease an established auto repair business that has been in operation for 11 yrs. The owner said he had other interest and pulled from his Quckbooks program indidiual print outs for the last 3 yrs to show what the company had grossed. My husband has been in the auto repair business for 30 yrs managing shops for others and has never been unemployed since he was 16 yrs old. We were assured that the business would ''easily'' replace the salary of 40,000 per year that he would be giving up. The owner only wanted the first months rent of 3300.00 and it included all equipment and inventory. (Inventory was very little, maybe 500.00 at the most.)We have been there since Feb 14, 2005 and the money just isn't there. When we approached him about the low income, he began insinuating that we were doing something wrong. I got suspious and began pulling actual invoices from last year off the computer. I found $31,000 worth of invoices that he had under the auto repair business that were for house remodeling jobs he had done. My husbands former position has been filled. I want to sue him for fraud and misrepresentation. Do we have a case? Thank you in advance for your reply.

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