Gone Today, Here Tomorrow: Overpaying Employees To Hide Assets
PROBLEM:
Debtors who own their own business can hide funds by cutting checks to a nonexistent employee or overpaying a current employee. Once creditors are no longer hunting for funds, the debtor simply voids the checks and pockets the money.
[light]
SOLUTION:
If…
Putting It Off: Small Businesses Defer Payments Until a Later Period
PROBLEM:
Debtors who run their own business know there is always a risk their books will be scrutinized. In order to maintain the façade that they have few to no assets, many find ways to hold back revenue. In some instances, debtors arrange…
Ties That Bind: Untangling Hidden Partnerships
PROBLEM:
Some of the cleverest concealers of assets decide to enter into partnerships that are tougher to look up or unravel than corporations or even limited liability companies.
Some states will let you search for limited partnerships on…
