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If I get sued.

Discussion in 'Business & Tax Advice' started by skylark516, Dec 4, 2009.

  1. skylark516

    skylark516 Regular Member

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    If I had a LLC setup, and I got into legal trouble for spam mailing, or deceptive marketing (in regards to the new FTC rules), what would happen?

    From my understanding, they would only be able to sue the "company". Am I correct?

    And, would I get to keep all cash that I had withdrawn from the business?
     
  2. KrisMalena

    KrisMalena Newbie

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    An LLC could still cause you legal problems but really you shouldn't worry about getting sued under the FTC rules you should worry about getting fined instead!
     
  3. vegasvillan

    vegasvillan Regular Member

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    Pay a crack head open a bank account and LLC for you....problem solved!!!!!!!!!!
     
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  4. problemsolver

    problemsolver Registered Member

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    It depends who you are getting sued by and how strong their case is. If for instance you are getting sued by Microsoft/Google then it might be best to reach a settlement with their counsel, sign an agreement to cease operations, and then leave alone that part of your business for awhile.
     
  5. the_demon

    the_demon Jr. Executive VIP

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    If your running the business and your doing the illegal things... your still likely to be liable. LLC only can shield you from so much... blatantly breaking the law is not protected by LLC.

    ... Take Enron for example. The execs. still went to prison and so can you.
     
  6. mr.breakit

    mr.breakit Jr. VIP Jr. VIP Premium Member

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    haha I like this idea but it would still be hard if all of the checks are going to another persons bank account. BUt that being said yes i would worry about fines. unless your a big fish then you would be able to afford legal advise, so for that reason I bet you will be fine unless your just scamming people then you only need to screw people out of a couple hundred k to get a five year run in ass raping jail
     
  7. Alex Brooks

    Alex Brooks BANNED BANNED

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    I totally agree, don't fuck around with multi trillion dollar buinesses.
     
  8. mightybh

    mightybh Jr. VIP Jr. VIP Premium Member

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    I was collecting debt under LLC when things went wrong and I had to shoot 3 people, steal their heroin and sell it on the street to get some of the money back... How much do you think I can be fined for?
     
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  9. polymath

    polymath Registered Member

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    Laws are made by man and the men who created them can bend them to suit their needs. It depends on the scale or damage. If you plan to create something like what bernard madoff did with his billion dollar fund(of course it's a corporation or an LLC), even if you are protected by what's on the "papers", you can be sure that even your personal briefs,boxers and socks will get auctioned off just to pay the people for damages and losses.:)
     
  10. zverr

    zverr Regular Member

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    It depends where you live. If you live in USA you could get in trouble. But if you live in Russia there is nothing to worry about :).
     
  11. mightybh

    mightybh Jr. VIP Jr. VIP Premium Member

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    I'm not sure. You mess with somebody's business in Russia, they won't be suing you, they will come and break your legs then walk away with your money.
     
  12. CClark56

    CClark56 Regular Member

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    Flathead screwdriver + Hammer + Kneecap = No more kneecaps.
     
  13. junkfood

    junkfood Registered Member

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    it depends totally where you live.

    if you live outside of USA< dont worry :) if in USA, dont be stupid.
     
  14. BlackBlackBlack

    BlackBlackBlack Newbie

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    Not giving legal advice but an LLC will only protect you from "Legal" business activities. Most LLC operating agreements contain a clause stating what business the LLC is in and that it is allowed to pursue any other LEGAL business.

    Given all of that... if you are located in another country and your LLC (or other similiar structure) is from still ANOTHER country you are pretty much bullet proof from most actions. Even if you do run in trouble you would have plenty of notice to make like the invisible man and get out of town.

    I know some guys in the super high risk stuff do this same thing.

    For Example: Incorporate in the UK, Bank in Spain and live in Germany.
    if you really want to be stealthy do what the steroid guys do, encryted mail behind multi proxies, server in very unfriendly countries and banks in Panama, or Greece. This way no email can be traced to your location. I know some people who thought they could hide with free email accounts and then someone showed up at their door.

    Just an FYI
     
  15. Qokaine

    Qokaine Regular Member

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    dont open a llc? idk
     
  16. thesterlingjoe

    thesterlingjoe Newbie

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    I agree. It is not worth your time and life messing with multi trillion dollar business.

    Two young men, 25 years old, decide to fuck with federal. The federal raided and investigated. They pleaded guilty and the sentencing date have not been decide yet. The maximum sentence is 20 years in prison and $250,000 fine.

    You can read more about them at http://www.justice.gov/opa/pr/2010/January/10-crm-031.html

    This company ran affiliate marketing style. They branded themself as a company. Really, they drive all the traffic to cacvrs.com. The business name Viable VRS is a white label name. It have all whistle and bell with customer service and product. They showcased the product at CES few years ago. This company is incorporated in Delware and run out of Maryland. They have offices in Texas and some other states. They were working on establish an international level.

    They have nice ambition but they took a wrong path and screwing the Federal Communication Commission.