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(1) Technically this would not be money laundering on its own. It may be a breach of fiduciary and his responsibility as a director. It is also unfair prejudicial to you as the minority shareholder. Was this money declared as a dividend?
(2) Yes his solicitor should have determined the source of funds before accepting them. Where do you suspect that the funds came from that make them proceeds of crime? Was the intention for him to buy your remaining shares? Kind regards AJ
Thank you. Admittedly that does make the transaction suspicious but it is still not laundered money - you would need to know an underlying reason. Is it from crime proceeds, has he defrauded the tax man? This may just be someone that does not understand company procedure and administration. What do you want to achieve - are you worried this is devaluing your shares? Kind regards AJ
Thank you. This is potentially a breach of fiduciary duty, breach of S.172-177 of the Companies Act 2006 and misappropriation of company funds. Without knowing the back ground details I would doubt this could be fraud as it just seems so overt. You would have claims against him under S.996 of the Companies Act - protection against unfair prejudice and also derivative actions against him as a director. You could sue for the recovery of the money. It is worth noting - if the company goes insolvent he will have to repay this money - do you actually want to carry on in the company with someone you cannot trust? Is it worth having him buy you out of your remaining share?