What to do if I recently entered into an agreement to buy a bottle redemption center from its sole owner but there appears to be fraud involved?

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What to do if I recently entered into an agreement to buy a bottle redemption center from its sole owner but there appears to be fraud involved?

She toook $1000 from me. We worked 2 weeks and then found out checks were going to a partner that she never disclosed. I need to know if this is fraud/breach of contract? She also wrote checks on the partner’s account after being taken off and has now called distributors and put checks in her name again. We need to know how to go about this. Do we sue or is this a police matter? What next?

Asked on December 13, 2012 under Business Law, Maine

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Until the person that you have been dealing with fails to sign documents via a formal escrow transferring title to the business that you are buying there is no actual fraud. However there seems to be some things happening that gives you concern.

I suggest that you have a face to face meeting with the seller you are dealing with in the presence of a retained business attorney to get answers clarified about the silent partner and to make sure that the transaction is legitimate before proceeding further.


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