>Domo also paid about $200,000 more than a year ago for furnishings from an interior design company that was part-owned by James and at which a different brother is an executive.
This is a classic embezzlement technique, where the main company rents something from a co-owned company at incredibly inflated prices. It appears legitimate on the balance sheets, allows the main company to go bankrupt and collapse without disrupting the secondary company, and insures no debtors can take the assets of the bankrupt company to pay off debts as everything is owned by the secondary company
This is a classic embezzlement technique, where the main company rents something from a co-owned company at incredibly inflated prices. It appears legitimate on the balance sheets, allows the main company to go bankrupt and collapse without disrupting the secondary company, and insures no debtors can take the assets of the bankrupt company to pay off debts as everything is owned by the secondary company