Am I liable for a business partner emptying our account and committing Fraud.?

R

Rocky

New member
My business partner and I purchased 24 acres. We refinanced to get monies to put in a Blacktop road and a stream crossing. He just died; but not before emptying our bank account and not paying for the work done out there. Can the Bank and others creditors find me Liable for his misrepresentation of funds and Fraud. What are my Options for this mess. Thank You for your advise.
My wife and I were supposed to sign the drafted checks as well. Misrepersentation of where all the money went and on what...
 
Iam not sure where fraud comes into play. if he was authorized and had access to funds then they are his as well. If your contract states both of you are liable for the unpaid work, then yes, you owe them. If you do not pay then they can choose to sue you by placing a lein on your business assets, if you are NOT partnered as a LLC (limited liability corporation) the debtors can come after you and your PERSONAL property.This is why LLC's are put in place, they protect you of losing your personal assets, you may want to obtain an attorney to show malice on his part and ignorance on yours.
 
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