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Startup shutting down, co-founder seized bank account, refusing to pay anyone. Disabled our google workplace so none of us can login. I am (technical) ceo… I will not promote
As the title suggests one of my cofounders took control of the company bank account and is refusing to pay anyone back. He has gone relatively radio silent but I have his location and he is still in SF. I understand there are a variety of legal options but I’m not fully sure how to get started / who to talk to. I’m based in SF, and would love some recommendations. Eventually we need to pay back our investors the remaining sum after we pay out our salaries (minimum wage in SF) and finish expenses (I fronted new hires, AWS, office on my personal card until our $500k pre-seed hit). It’s been over a month now and I have yet to be reimbursed for anything and all my cards are maxed out, including borrowing money from my family as allegedly this should be paid back. The money is absolutely there as we raised from an extremely reputable accelerator, but there were significant ethics concerns and we shut down. It’s been a few weeks since we agreed to give back the money and I’m deeply concerned and frustrated. I will not promote2
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