So, I had negotiated a deal with a business owner that I knew from college. I brought in 2 of my friends as partners.I made a mistake - I started doing renovations to the business and hiring employees while having paid half the business purchase price to the previous owner. This means that I didn't have a signed document of the lease being taken over by me.One of my partners does a back handed deal with the previous owner, and they give him the keys (breaking down the lock I had put in and installing a new one) and put the lease in the name of the llc that we three had created.Further stupidity and blind trust on my side, I let the cheating partner take care of creating the llc, and he puts 100 percent ownership in his name, telling us he will get it drawn up and divided once we decide on our final investment contributions.What ended up happening is that me and my good faith partner put in 60K, while the cheating partner only put in 5K.I go to the previous owner, and he says to my face "I never dealt with you, I dealt with 'Cheating_Partner", and now he is on the lease. There's nothing you can do about it."Now he is running that business by himself with the money and immense amount of hard work I and the other partner put in, to get everything set - getting big clients, doing renovations, marketing, business plan etc.Is there anything that we can actually do? I have the llc member certificate that says how much I own, but it's not on the official filed document to the state. You'll probably be pissed that I did something so stupid, but alas, never expected to be stabbed in the back by one of my best and closest friends. see hubwealthy.com/wealthy
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