The business I bought two and a half years ago has never lived up to the financials I received and had reviewed by my CPA at the time and the lender. A month ago I noticed an anomaly in Quickbooks and sent the current file as well as a file that "wasn't used" by the business broker to determine the business value and a file that supposedly was to my CPA. I've since learned that the office manager/bookkeeper has made numerous basic mistakes in the current file and the original file was such a mess that the CPA was having a hard time making any sense of it and questioned how a business broker who is not an experienced CPA could generate the reports that he generated. The business broker's work also comes with a $5000 fine in Oregon since he isn't a licensed CPA. I also learned that my office manager snoops in my computer as she must have seen an email between myself and my CPA because out of the blue she sent a nasty email to my CPA, myself, as well as the seller's book keeper (probably to tip him off). Depending on what additional information my CPA finds as he further examines the original files, It looks like I'll be filing a pretty large lawsuit early next year and firing an incompetent possibly dishonest office manager.
This business looked very good on paper to the point of lenders even commenting on how strong it was...
This business looked very good on paper to the point of lenders even commenting on how strong it was...
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