A friend wants to open a business in my name. I don’t have to do any of the work, but he just uses my identity on all the paperwork. He and his millionaire friends all do this all the time, and now he wants me to become one of his puppets. Is this actually legal? What kinds of liabilities would I be opening myself up to by agreeing?
Throwaway account, I’m terrified for him to know
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Talking about identity theft? No! Run!
This guy’s a criminal. Run FAST
Lawyer here, this sounds nuts!
Nope. And I’d put a freeze on your credit checks and shit to make sure he can’t do anything without you knowing.
In case you need someone to tell you - your friend is shady as hell.
He probably won’t visit you in jail…
LOL right? But his lawyer might pay a visit, to remind him of the Non Disclosure Agreement they had him sign.
If you’re terrified for them to know you’re posting this, why would you even consider going into business with them? Legal, or not? That would be an insane plan!
My alarm bells are ringing TBH and I hope, for your sake, that you pass on this request.
Bad idea, high risk and no reward, no point of doing it
What’s the purpose of doing it in your name??
Are you a veteran, minority or woman? Perhaps your ID is being leveraged fraudulently to get contracted work through set asides? Sounds fishy. I wouldn’t do it. The penalties for many of these, especially as a federal contractor can be pretty severe.
Nope. Illegal. Fraudulent. You are asking for major trouble for yourself. YOU will be the one who burns for that. Don’t do it
This person is engaging in identity fraud with you as the victim.
If you feel the advice here is missing the mark, hire and atty.
What is this business he wants you to open for him? If his millionaire friends do it all the time why isnt he asking them? Is this a real life friend you have known forever or some internet “friend”? If your name is on any paperwork at all you have liability.
Sounds like the movie the other woman. The husband opened his banking/investment business under his wife’s name to launder money from international banks.
Figured out why they’re millionaires. Open a business in some schmuck’s name, open up a bunch of credit cards and loans, pocket the money and leave the legal owner stuck holding the bag.
You are smarter than this.