Rev2010
Contributor
All this talk about bankruptcy. For him to file for bankruptcy he would have to show that his corporation simply had no money or assets to continue on. If he collected all this money from people but didn't deliver a product then how would his business be bankrupt? In addition, correct me if I'm wrong and someone knows for sure, but a business owner that is incorporated simply can not just use all his companies monies for personal reasons, even be it for health costs - which also if he was pulling in that much cash I'm sure he'd have paid the money for insurance, if not for the sole reason to cover his family as well. That would be called embezzling no?:
Embezzling | Define Embezzling at Dictionary.com
em·bez·zle
[em-bez-uhl] Show IPA
verb (used with object), em·bez·zled, em·bez·zling.
to appropriate fraudulently to one's own use, as money or property entrusted to one's care.
Rev.
Embezzling | Define Embezzling at Dictionary.com
em·bez·zle
[em-bez-uhl] Show IPA
verb (used with object), em·bez·zled, em·bez·zling.
to appropriate fraudulently to one's own use, as money or property entrusted to one's care.
Rev.