Wow, I'm actually in the middle of exactly the same situation right now (significant untracked and unauthorized personal spending by a co-founder), except I don

Wow, I'm actually in the middle of exactly the same situation right now (significant untracked and unauthorized personal spending by a co-founder), except I don't have a board, it's just me and the other co-founder.. We tried to work things out together to balance everything, but I finally gave up out of frustration and hired a lawyer.. Something I should have done from the start.. I'm going the opposite route though, and forcing him to buy me out of the company instead (with the alternative resolution being litigation against him), so he can keep the mess he created, and I'll get out of the liability and get a lump sum payment on the way out..