Man to Face Trial Over Alleged €125,000 Theft From Son's Company
A father accused of attempting to embezzle €125,000 from his son's company will face trial next week after allegedly writing unauthorized checks and then suing the business for the funds.
A man will stand trial next week accused of trying to steal €125,000 from a company set up by his son.
The man was the company's authorised representative, and his son, who founded the business in Tenerife, trusted him with managing payments and a checkbook.
Prosecutors allege that the man filled out four checks, making himself the beneficiary, for amounts totalling €125,000. These checks, they claim, were not for any legitimate business reason or debt owed to him, and were written without his son's knowledge or permission.
He attempted to cash two of these checks, for €15,000 and €45,000, but the bank refused to pay. He then allegedly wrote a fourth check for €40,000, which also failed to be cashed.
After these attempts failed, the man reportedly sued the company for the full amount of the checks.
Legal representatives for his son and the company, along with prosecutors, argue that the man knew the checks were invalid and that he was not owed the money. His authority to manage company affairs has since been revoked.