Questions & Answers
How to claim back money invested in a business for the fraud of partner?
I opened a cafeteria with my colleague spending AED 120000/- each. I was an investing partner and my colleague was the working partner.
A few weeks after the cafeteria opened, we had a lot of disputes because I noticed fraud in accounts and initial setup expenses from his end.
So I decided to exit the business and I asked for my money back. But he is refusing to pay back anything. The trade license was issued in the sponsor's name and not in any of our names so I could not do anything.
Also, I paid him most of the money in cash as I trusted him then. However, I have a mutually signed agreement with the 120k mentioned as paid to him in that.
How can I get my money back?
Dear querist,
Thank you for your query.
We can certainly help you with that by sending them a legal notice to start with, and from there onwards we will move to further steps.
Kindly contact me on my phone for further discussion.
Regards
