Going thru a divorce I asked my friend to hold that money for me. He kept inferring verbally we would be partners but details and paperwork were never followed thru. I have many text messages from him stating he was going to go over that information. Also he gave mr projections three years showing a profit. Now he is telling me the money I gave him was a loan and he intends only to give me a Promissory Note, and is spending my money for his own business, I need that money, can I legally get it back? I did not tell him to spend the money and we do not have a business agreement, it was 75000 and I am broke without it. What are my options?
State/Country relating to question: Missouri
I asked for my money back and in the event we went into a partnership we could discuss specifics. He told me he is spending it on his business and wants to give me a ridiculous note, dating over 10 years, to return my money. I've been working there for free he is paying other staff with my money. And he had not followed thru on any paperwork towards a partnership. Can I get my money back?
If you get a note, you will have to list it as an asset.
He knows the rules and knows that if you sue him, he will say that you gave him the mone to hide it from your ex. That might make things difficult.
You would have been better off holding the money and reporting it in a divorce. Who knows how much you would get to keep.
What to do now? Do you work there? Are you going to sue your employer?
If you take the note, he will default. Then he will rely on the same thing, that you were hiding assets, to keep you from suing him.
The best thing you can do now is sue him.
Did you tell him you were hiding assets?
If you sue him now, you can deny that you were hiding assets and say that it was an investment in a partnership. He swindled you.
He is an employer and took adavantage of that position to take your money.
Do you have a relationship with him? Is this sexual harassment too?
See how this messes up the divorce?
If you are clean, then sue him now and attach his bank account.
Attorney for business formation, business sales, tax, partnerships, sole proprietors and buy/sell agreements.
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