Sold my “S” Corp business to “Justin” I’ve known for 15 years. Contract was stock sale. He paid 1 month , thats it. 2nd month he gave me a $1800 machine and some payments ment to him but were in my bank account through ACH payments. He told me to keep that since he owes me the money. But every month it was the same thing, business is slow. He fired my sister of 10 years (she knows the office and can run 80% of the equipment) as he stated he was being sued for 1.67 million dollars for an injury at the shop. I found that to be a lie. He fired my other employee of 13 years because he said it was “slow”. Both my employees were 62 and super hard workers. The business was a turn key and ran super smoothly and was very profitable.

I even came to the business for 4 months without payment to help him if he needed but he said he needed no help and told me if he needed me he would call. I found him to be one of those know it all kind of people. But inreality he knows nothing. I sent him emails monthly stating how much in debt he was getting behind in the monthly payments. But, every month his excuses were to stall me. In the last email he stated that he opened another business name close to mine, transfered the equipment, assets and machinery (valued at $300000) and told me he’s not paying. He then told me that I am not allowed on the premises or his home and to not contact him in any way unless it’s through his attorney. Which he has not told me of any lawyer that he has. I also found that he told me he was in contact with 2 lawyers about the “accidnet” but it went from Portland oregon to now attorneys in vancouver Washington, but no names.

He also told me he couldn’t pay for a month because he received an email from the state of Oregon unemployment division and stated that the ” business owes $1200 in back unemployment payments” and since he was the new legal owner, he had to pay it. I contacted the state as I still have my old tax ID number and they stated they did no such thing and no monies were owed.

He also stated that the electrical wires to 2 of the main machines were eaten by rats so he had to pay $5000 to get them repaired and to pay for a reboot of the hardrive to a prior past as the HD crashed from a “virus”. Again, I call ed the company who did the upgrades and they stated no such calls were made. and we had 2 shop cats in the business.

And as far as the shop cats? He from day one stated he hates cats. So I asked him where they were. He stated that after a month of being there, he didn’t see the cats anoymore so he figured they ran away so he threw out all of thier stuff. (this was 3 months into the contract signing). BUT my nephew found that as business down the street was advertising on craigslist that they found a cat in thier building and the pictures were of my cat! He threw the cats out (inside cats) and left them to fend for themselves! What an ass. So, I contacted that business and got my cat back. He is now living with us in our home, loving as ever.

Anyone got any help? I’ve sent demand letters, no response and can’t find an attorney.

Since it’s an “S” corp, and a contract involved, now I am told I need to find a corporate contract attorney. I was not expecting to pay out of pocket for an attorney to get paid. I looked for a contract attorney to write up the original contract, but they wanted $25k up front and 10% of the total sale UP FRONT FROM ME THE SELLER!

I made a super simple and valid contract. We all signed it and I had it witness signed and notarized.

I would LOVE to find an attorney that would do this in exchange for even 50% of the sale (sale was for $370,000) with no money out of pocket from me. The seller has a home, an extra property with barn for his “toys”, roughly 6 good newer vehicles, a tractor, a boat, a 401 and his wife works for a circuit court judge!

He also told me he made $170K a year working for Penske Trucking, so I know he’s got some $$ hidden somewhere.

Signed FRUSTRATED

Any help? ideas?