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The Joys Of Being In Business

Revoltingest

Revoltingest

Pragmatic Libertarian
Premium Member
In a building I sold in 2017, I had a commercial tenant with a furniture refinishing &
repair company. I'll call him Bob to protect Josh's his real name.
I'd heard thru the grapevine that Bob's brother wrecked Bob's car, & then stole
$18,000 from Bob's business bank account. Pretty bad, eh?
Well, at least the loss was small enuf that Bob could recover from it. As his former
landlord, I know his business was doing well, so this would be a minor setback.

I got a text from Bob today. He wanted to meet right away.
It turns out that things weren't so rosy. Bob's brother....let's call him Fredo (fans of
The Godfather grok this meaning)....had done more. Fredo set up a bank account
in the company name, & was depositing checks he stole from Bob's mailbox.
It gets better. Fredo stole credit card & receivables info too. So he was charging
customers' credit cards, double billing for work, & stealing that money too.
Bob doesn't even know the full extent of thievery yet. What he does know is that
he has zero operating cash, angry customers, & plenty of jobs to finish...by employees
who want their paychecks to clear.

Bob proposed my lending him enuf money to survive 3 or 4 months of this fresh hell.
Awkward, eh? Bob seemed on the verge of crying several times.
People who really need to borrow money are the least likely to be able to pay it back.
But we figured out a plan. I gave him some tasks to organize his needs & plan recovery.
Friday we're arranging an exchange of money & collateral. He seems worth the risk.
 
PureX

PureX

Veteran Member
Revoltingest said:
In a building I sold in 2017, I had a commercial tenant with a furniture refinishing &
repair company. I'll call him Bob to protect Josh's his real name.
I'd heard thru the grapevine that Bob's brother wrecked Bob's car, & then stole
$18,000 from Bob's business bank account. Pretty bad, eh?
Well, at least the loss was small enuf that Bob could recover from it. As his former
landlord, I know his business was doing well, so this would be a minor setback.

I got a text from Bob today. He wanted to meet right away.
It turns out that things weren't so rosy. Bob's brother....let's call him Fredo (fans of
The Godfather grok this meaning)....had done more. Fredo set up a bank account
in the company name, & was depositing checks he stole from Bob's mailbox.
It gets better. Fredo stole credit card & receivables info too. So he was charging
customers' credit cards, double billing for work, & stealing that money too.
Bob doesn't even know the full extent of thievery yet. What he does know is that
he has zero operating cash, angry customers, & plenty of jobs to finish...by employees
who want their paychecks to clear.

Bob proposed my lending him enuf money to survive 3 or 4 months of this fresh hell.
Awkward, eh? Bob seemed on the verge of crying several times.
People who really need to borrow money are the least likely to be able to pay it back.
But we figured out a plan. I gave him some tasks to organize his needs & plan recovery.
Friday we're arranging an exchange of money & collateral. He seems worth the risk.
Click to expand...
I sincerely hope 'Bob' is able to weather the storm his brother has caused him. And I hope his brother gets to spend a significant amount of time in prison, minus the money he stole, to reconsider a new way of living.
 
savagewind

savagewind

Veteran Member
Premium Member
Revoltingest said:
In a building I sold in 2017, I had a commercial tenant with a furniture refinishing &
repair company. I'll call him Bob to protect Josh's his real name.
I'd heard thru the grapevine that Bob's brother wrecked Bob's car, & then stole
$18,000 from Bob's business bank account. Pretty bad, eh?
Well, at least the loss was small enuf that Bob could recover from it. As his former
landlord, I know his business was doing well, so this would be a minor setback.

I got a text from Bob today. He wanted to meet right away.
It turns out that things weren't so rosy. Bob's brother....let's call him Fredo (fans of
The Godfather grok this meaning)....had done more. Fredo set up a bank account
in the company name, & was depositing checks he stole from Bob's mailbox.
It gets better. Fredo stole credit card & receivables info too. So he was charging
customers' credit cards, double billing for work, & stealing that money too.
Bob doesn't even know the full extent of thievery yet. What he does know is that
he has zero operating cash, angry customers, & plenty of jobs to finish...by employees
who want their paychecks to clear.

Bob proposed my lending him enuf money to survive 3 or 4 months of this fresh hell.
Awkward, eh? Bob seemed on the verge of crying several times.
People who really need to borrow money are the least likely to be able to pay it back.
But we figured out a plan. I gave him some tasks to organize his needs & plan recovery.
Friday we're arranging an exchange of money & collateral. He seems worth the risk.
Click to expand...
Or, the whole bit's a scam. But, a funny one. Haha
 
Revoltingest

Revoltingest

Pragmatic Libertarian
Premium Member
savagewind said:
Or, the whole bit's a scam. But, a funny one. Haha
Click to expand...
I've known Bob & family for a few years.
His conduct as a tenant was exemplary.
If it's Bob's scam, I'll mitigate any loss with the collateral.
I'm willing to take chances where odds look favorable, great
good is done, & I make some profit.
I know his wife & some employees.
A shame it would be if the business closed.

savagewind said:
I'd ask for real proof. No made-up-stuff for me.
Click to expand...
Collateral in excess of the loan value is my security.
 
Last edited:
Revoltingest

Revoltingest

Pragmatic Libertarian
Premium Member
PureX said:
I sincerely hope 'Bob' is able to weather the storm his brother has caused him. And I hope his brother gets to spend a significant amount of time in prison, minus the money he stole, to reconsider a new way of living.
Click to expand...
Brother is likely going back to prison on a parole violation.
I plan to help Bob implement security procedures to avoid
such problems in the future.
He's young, only in his 30s, but his eyes are opening.
 
Daemon Sophic

Daemon Sophic

Avatar in flux
Revoltingest said:
I've known Bob & family for a few years.
His conduct as a tenant was exemplary.
If it's Bob's scam, I'll mitigate any loss with the collateral.
I'm willing to take chances where odds look favorable,


Collateral in excess of the loan value is my security.
Click to expand...
OK. Now you’re not a total loss.
source.gif
 
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