I opened a business bank account in 2001 with a partner. The business never got off the ground and I was told by my partner the account was closed within several months of opening it.
I had no contact with the partner after 2003. Now in 2010, I learned that a credit card in my name remained active on this business account for the sole benefit of the former partner. The partner made online purchases and payments using the card. I never received statements nor was I every contacted by the bank. The account has now gone to collections and the bad debt now shows up on my credit rating. The partner is now bankrupt.
Is this still shared partnership debt or did this become fraud?
Thank you for your time.