Business partner concealing information

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Old Jul 28th, 2009, 08:18 AM   #1
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Default Business partner concealing information

Me and my friend started business in the States. I live overseas and he resides in Florida where it was all started.
It was my idea as the business is related to what I do in my home country. We had a verbal agreement that we will have 50/50 of profits after expenses. I've been paying the entire company expenses for over 15 mos. I also paid the car lease, car insurance and cellular phone bills of my friend-business partner as he could not afford that at that time. As I found out later he was using the company to operate his own business totally ignoring the activity the company was formed for. Besides that he didn't provide me with the detailed information of the transactions that were made. I also suspect that he is using information of my home country business clients without my knowledge.

What can I do in this situation? Can I bind him to repay me the money he was taking to cover companies expenses and his car lease, car insurance and cell phone bills?

Last edited by kolinson; Jul 28th, 2009 at 10:26 AM.
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Old Jul 28th, 2009, 08:34 PM   #2
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Default Re: Business partner concealing information

You can make him sign a promissory note and/or sue for the amounts you should have beenn paid--or at least threaten to do so.
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Old Jul 29th, 2009, 08:57 AM   #3
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Default Re: Business partner concealing information

Can I sue being outside the States can someone sue on my behalf?

Thank you.
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