I invested 10 in a start up business, with the agreement of forming an LLC, and given LLC formation paperwork. The LLC says that I am a Member. Months down the line, I realize owners/managers are embezzling money and abandon the business. They take the investment money and all assets of the business and open a Sole proprietorship with the same business, same name using the LLC funds. I never received a dime. After going to court Judge doesn't want to hear it, sends it to arbitration. I call the sec of state and find out that I am not listed on the LLC..only the owners/managers are. They never added me to the LLC although it appeared that way when I received the paperwork. This is not the first scam this guy has done just differnet business names.
ifferent business names.
