Quote:
Originally Posted by ScottFenstermaker
Contrary to some of the earlier posts, utilizing an LLC will not protect its owners from criminal and civil liability in case of fraud. For example, Bernie Madoff's company was an LLC, and he ended up with a 150-year prison sentence and a huge civil judgment.
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No one is alleging fraud at this time. I know you are the head of the “burn them at the stake” club but it is laughable to think the Morse kids had any idea that this was occurring. I am sure they felt they had capable people running the Villages health care business but there were errors made in billing for a huge amount. None of us here have a clue on what HHS and United Healthcare will do, but the bankruptcy judge has a clear understanding of what will be done under a Ch 11. And it will not come back to the Morse family with any personal liability. If it does they need to fire all the legal counsel they have hired to keep them personally out of these types of messes.