Can a business partner be charged with embezzlement?
My husband owns a business along with a partner whom he went to school with. The are equal partners. We have discovered this year he had a $10,000 cashiers check issued to himself from a business loan that acts as a checkings plus account. He also has approximately $40,000 in exessive business expenses that are not legitimate which consists of buying himself lunch daily, liquor, pizza, dental, parts for a non-company owned car, down payments for unauthorized company car purchases, groceries, and etc. He has also been using company funds to make a payment on his personal car or RV. He also barely shows up to work. The most he shows up to work is about 15 hours a week. HOWEVER, they did not have a very detailed share holders agreement drawn up. So my husband has nothing in writing which states specific guidelines for expense or excessive spending.