Hi all,
Currently co-owning a business, which is quite successful and ongoing for several years now. But whilst going through bank records I noticed a payee I have never seen before with substantial amounts going to this entity. I have confronted him about this and was told this was a specific marketing purchase in a well-known location that requires ongoing payment. A very thorough search shows no business with the payees title linked to the supposed purchase.
Obviously I wasn't told of this purchase, which isn't real the issue here (though it is a problem), but the fact there is no evidence or record of receipts. I have requested for the bills for this service, but he has not provided one yet as he usually does. As substantial cash is going into this account, I have investigated the account name further and strongly suspect that the account that the cash is going to is a discretionary investment family trust account that is based in his home postcode (not a verified link to the payee name to trust account name however, just a very strong suspicion due to the names being exactly the same).
Of course this is pretty airy fairy stuff at the moment, but my question is - what is my next step? And what can I do to attain solid evidence of these suspicions if I am not given records to verify the purchase/transactions. Personally, the reason for my suspicions is that I know my business quite well with the pays going out and money going in, plus I am aware that my partner has had recent personal financial issues, although I was not aware he could potentially stoop to this level.
It is not strapping the business, but it is a substantial + obvious amount so recovery would be nice or at least make sure he knows he can't just take money from the business willy nilly. Currently we have a good working relationship so I can bring this up again and see how it goes, but it would be nice to know what legal steps I can take if this can't be resolved personally.
Any follow up help or recommendations would be greatly valued and appreciated
Regards,
Currently co-owning a business, which is quite successful and ongoing for several years now. But whilst going through bank records I noticed a payee I have never seen before with substantial amounts going to this entity. I have confronted him about this and was told this was a specific marketing purchase in a well-known location that requires ongoing payment. A very thorough search shows no business with the payees title linked to the supposed purchase.
Obviously I wasn't told of this purchase, which isn't real the issue here (though it is a problem), but the fact there is no evidence or record of receipts. I have requested for the bills for this service, but he has not provided one yet as he usually does. As substantial cash is going into this account, I have investigated the account name further and strongly suspect that the account that the cash is going to is a discretionary investment family trust account that is based in his home postcode (not a verified link to the payee name to trust account name however, just a very strong suspicion due to the names being exactly the same).
Of course this is pretty airy fairy stuff at the moment, but my question is - what is my next step? And what can I do to attain solid evidence of these suspicions if I am not given records to verify the purchase/transactions. Personally, the reason for my suspicions is that I know my business quite well with the pays going out and money going in, plus I am aware that my partner has had recent personal financial issues, although I was not aware he could potentially stoop to this level.
It is not strapping the business, but it is a substantial + obvious amount so recovery would be nice or at least make sure he knows he can't just take money from the business willy nilly. Currently we have a good working relationship so I can bring this up again and see how it goes, but it would be nice to know what legal steps I can take if this can't be resolved personally.
Any follow up help or recommendations would be greatly valued and appreciated
Regards,
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