We used the money to put up our new office and some went to working capital. Unfortunately, the financial crisis in the US affected our business and starting May of 2010 we started to have financial problems. We retrenched employees to reduce our cost but this did not help and we close business in Sept of 2010. We paid interest to this creditor until Oct. of 2010. We haven't filed for for bankruptcy yet because we are still processing the necessary papers.
Yesterday, one of my friend who is the president of our company got a subpoena for syndicated estafa. I did not received a copy yet but I am sure I am included as one of the accused.
My question is, can they file a syndicated estafa? The transaction is between two corporations. Also, we offered to settle it in 10 years because that is what we know right now that we are capable of. But they want it 3 years. We never intended to runaway from the obligation even though the money went to the corporation.
Someone please help.