Let me tell you about a mean man I met during a case several years ago. His name
ID: 469422 • Letter: L
Question
Let me tell you about a mean man I met during a case several years ago. His name was Frank. This man had a company called "Ace Cabinets". He took deposits from several customers who wanted to install new kitchen cabinets (my client gave him $10,000 down on cabinets that would cost a total of $25,000). However, Frank never actually did any work. He would avoid calls.... make promises to be there next week.... etc. etc. etc. In the meantime, Frank paid himself a huge salary.... bought a new truck in his name.... took the family to New York to see plays.... you know the routine..... I sued Ace Cabinets, Inc. as did lawyers for other fleeced victims. Ace filed bankruptcy and the cases all went away. The corporation did not actually own anything so there was no money to pay claims. Several weeks later, my client called very upset. She had noticed a truck visiting a neighbor with a sign on it that said: "Heavenly Cabinets" AND FRANK WAS DRIVING IT. He was back in business under a different name. Here is my question and it has two parts. How is Frank able to get away with this? Does the law give these victims any hope at all? Let me tell you about a mean man I met during a case several years ago. His name was Frank. This man had a company called "Ace Cabinets". He took deposits from several customers who wanted to install new kitchen cabinets (my client gave him $10,000 down on cabinets that would cost a total of $25,000). However, Frank never actually did any work. He would avoid calls.... make promises to be there next week.... etc. etc. etc. In the meantime, Frank paid himself a huge salary.... bought a new truck in his name.... took the family to New York to see plays.... you know the routine..... I sued Ace Cabinets, Inc. as did lawyers for other fleeced victims. Ace filed bankruptcy and the cases all went away. The corporation did not actually own anything so there was no money to pay claims. Several weeks later, my client called very upset. She had noticed a truck visiting a neighbor with a sign on it that said: "Heavenly Cabinets" AND FRANK WAS DRIVING IT. He was back in business under a different name. Here is my question and it has two parts. How is Frank able to get away with this? Does the law give these victims any hope at all?
Explanation / Answer
it is the limitation in our law, there are many live examples for this.
and a simple and live example is about Vijay Mallya, the owner of kingfisher brand, is take thousands of crores loans from bankers and now he is not paying any interest and principle to the bankers. but he is enjoying with his family and now he is one foreign nation.
our law allows it, any one can start a business, where it may operate by some one else. in the given case the same happens. Frank initially started a venture and collected money from people and turnout the venture. now one more new venture opened, it may opened on his wife name or some one else name and he may be operating it. the law should be ammend, we should not bare and allow these kind of people live into the society. they should legally punished.
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