3 ms·
What about officers of the corp, aren't they also responsible?
by mishmash 17y ago
What about officers of the corp, aren't they also responsible?
- justinhj 17y agoOnly if they act illegally or irresponsibly, right? Otherwise only assets of the corporation are at risk.
- billclerico 17y agoholding customer funds without complying with banking laws is a federal crime - making them liable personally
- justinhj 17y agoyou should tell paypal about that
- billclerico 17y agopaypal is a registered bank
- justinhj 17y agoNot in the US it isn't.
- vaksel 17y agoI think that only applies if you do something illegal. What will probably happen is that they'll get sued, and as part of the settlement the company will be forced to pay out $_ million. Since the company probably won't have that, they'll end up declaring bankruptcy. But then again I'm no lawyer
- adharmad 17y agoNot unless fraud is proven. Unfortunately, bad management is not punishable,