- Original Poster
- #1
Good evening folks,
Can anyone offer me advice on behalf of my friend whose brother started a business and gave him 5% of the company. He also gave 15% of the company to a supplier (who he no longer uses) and is now putting his entire spending through the business, including helicopter flights, every weekend out, every meal out, holidays, fuel (Four cars and a boat) house extension, first car for Stepson and more, but denying it is a problem as he is company Director and General manager and no one can argue as he is majority shareholder. I have read up about 10% shareholders being able to call a general meeting and ask for an audit but this guy refuses.
Any help for my 5% friend?!
I work for the company and am stuck in the middle of what seems to be a scam
Can anyone offer me advice on behalf of my friend whose brother started a business and gave him 5% of the company. He also gave 15% of the company to a supplier (who he no longer uses) and is now putting his entire spending through the business, including helicopter flights, every weekend out, every meal out, holidays, fuel (Four cars and a boat) house extension, first car for Stepson and more, but denying it is a problem as he is company Director and General manager and no one can argue as he is majority shareholder. I have read up about 10% shareholders being able to call a general meeting and ask for an audit but this guy refuses.
Any help for my 5% friend?!
I work for the company and am stuck in the middle of what seems to be a scam
