Jacob said
My friend is employed in a telecommunication office. Recently his boss and at the same time owner of the company obtained a loan from a bank using the names of some of the employees, including my friend. So, its as if they were the one who applied for the loan. They were asked by their boss to sign the loan application for which they did eventually for fear of losing their jobs. After the loans were granted, the boss took all the money and used it for the company. Now, my friend wants to file a legal complaint on the company. What case could my friend file? Please help......

Daniel said
He needs to get a lawyer right away. It might fall under duress the signing of the loan. Unless his boss is planning to make them partners with a good share then he is not allowed to do what he did. Call a lawyer and give him all the details. If the loan is not paid he will be liable.

maidcafenews said
It is not illegal to ask employees to invest in a company or to assist a failing company. It sounds like he didn't demand it, as he discussed it with the employees and the employees decided to sign. In my opinion they were fools. If the company doesn't evenhave access to credit they are doomed anyway and getting the loan merely delayed the inevitable. When the loan comes due, the employees are going to be personally liable as they borrowed the money.

udipopular said
HiI saw your question I have decided to help people out due to the fact that I myself has been scammed twice by fake lenders in my search for a loan but at last I got a reliable lender that gave me the loan($60,000 USD) that I was in dire need of even with a bad credit. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can get to him via his email address charles_lenders@.com Please tell him that Deborah Kirk he gave out a loan to me . I have search for a legit lender until I got him and I decided to help my fellow humans with this because there are a lot of fake lenders out there and I do not want any body to fall a prey please get to him and tell him that I referred you to him.Thanks.Deborah Kirk

hanaplus said
It can both criminal and civil in nature. Criminal - Cheating. Clearly the boss was out to make wrongful gain by intentionally using the names of his employees for which he knows for a fact that the money does not meant to be used by those employees. Civil - The loan transaction can be null and void. It's clearly signed under duress - for fear of losing ones job. It could be under misrepresentation in that the employees could have been told to sign under some sort of pretext. However, it is strange that any one would sign such document simply for fear of losing his job. Further, the company who grants the loan would have checked personal particulars of the borrower. It just does not make sense unless the employer loans money and those employees are made to be his guarantor.