A forensic audit confirmed the details of the fraudulent share transactions and with this evidence in hand the Intelysis team was able to assist the client gain access to the company records under a shareholder oppression remedy. Subsequent work uncovered both the non-arms length transactions as well as a body of evidence detailing excessive expenditures by the partner, again unjustly enriching himself at the company’s expense.
With the evidence against him piling up, the other shareholder made a strategic move by putting the company into bankruptcy proceedings, but with the benefit of sound legal and financial advice, our client was able to recover substantial assets from the company.