Deductions from salary...

[Greek Sheik]

I am an employee in a small business with 5 employees with 2 owners in a 50%-50% partnership. For some time now it has been obvious to everyone but owner #2 that owner #1 has stealing from the company. Inventory has been going out the door in exchange for cash and or trade directly to owner #1 and disappearing from our books. Knowing what has been going on, I have not informed owner #2 in fear of the immediate closing of our company thus the termination of my employment and means to support my family.

The two partners are currently in negotiations to have owner #2 buy out owner #1. The two sides differ in what they think the value of the business is and plan to meet with an accountant to determine what the company is worth. As would be expected owner #1’s price is way higher than owner #2.

Here is my problem. The rough estimate alone of how much owner #1 stole in the past year is greater even than what he thinks 50% of the business is worth. I am having a hard time personally seeing him get away with this. I would like advice on how I can present this information to owner #2 before the sale of the company is complete and #2 is completely ripped off? If I knock over the can of worms what is to prevent owner #1 refusing to sell and scuttling the company sending me and my 4 co-employees searching for new jobs?

see your other post