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
Nooooooo, please don’t do this. Your friend will give you a million reasons and excuses in the book as to why this is okay and legal but it is not. You will be held responsible for any debt the business incurs, you will be screwed over with your taxes, you will be the one that the law will go after for any lawsuits, etc. If your friend had good intentions, he would do all of this paperwork under his own identity. If he is in the country illegally and using that as a reason or an excuse, then one of his millionair friends can set up the business for him.
Side note: a good friend will not ask you to do something shady as such so please re-evaluate your friendship with this person. Are there feelings involved? Are you two more than just friends? Because even if there is some type of friends with benefit situation going on, you are not married to this person and they may be using you to get the business under your name.
It is fwb. He insists my taxes won’t be affected at all because it’s net 0. Thank you for the advice. It helps to see other people seeing my same skeptical reaction. I feel like he’s trying to gaslight me by saying I’m his only friend that’s over reacting over a deal like this
This has to be a troll, either that or your name is under the definition of gullible in the dictionary.
“friend” is taking advantage of your naivety from both ends apparently
He’s definitely trying to manipulate you. Look at the answers here on this sub. This is a huge red flag and pretty much anyone with any sense knows it. He’s either lying about his friends of he has a lot of really stupid friends.
You literally need to block him and never speak to him again. This is the origin story for half the characters on Orange is the New Black.
ding ding ding
I’ve got some news for you, he ain’t your friend you’re a mark for him and he will use you if you allow it.