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Katherine K
Katherine K, Lawyer
Category: Criminal Law
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i have an s corp business that is in trouble i owe personal

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i have an s corp business that is in trouble i owe personal people who invested over 1.6 mill i owe banks for titles that are not paid off im in 2.5 million in debt can I go to jail for this?
Submitted: 8 years ago.
Category: Criminal Law
Expert:  Katherine K replied 8 years ago.
HiCustomer

Unless you engaged in fraud or embezzlement or something illegal, then there are no crimes with which you can be charged. I am sorry to hear that the business was not successful, but any sort of breach of contract or inability to pay would be civil matters. I hope that is helpful and wish you the best.

Let me know if you have any other concerns.

Sincerely,
Katherine
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