Thank you for checking this out, I'll make it brief.. A few years back I had to travel out and in order to keep my business running, I made my best friend signatory to the company account.. Now after a few years I'm back and I discovered he's been taking money without my instructions. Being the owner of the company I approached the bank to change his details to mine but I was told I can't unless he signs off. The challenge I have is out of fear he has refused to show up. I even sent him the form to complete and sign he said he can't remember the signature he used and he will have to visit the bank which is taking too long thanks to COVID-19, because he claimed he hasn't operated the account for years. Now my dilemma is how can I get him off as the signatory without him having to sign or being present.

My major fear now is in fact him using the company name to perpetrate fraud or moving funds out. I have the chequebook so I don't understand how he was able to withdraw without the chequebook. Thanks all.

You don't understand how someone can withdraw from an account he operates without the cheque book?

My advice would be too advanced for you to comprehend so I'll just pass.

Gandollar:
You don't understand how someone can withdraw from an account he operates without the cheque book?

My advice would be too advanced for you to comprehend so I'll just pass.

see finishing

callthefred:
Thank you for checking this out, I'll make it brief.. A few years back I had to travel out and in order to keep my business running, I made my best friend signatory to the company account.. Now after a few years I'm back and I discovered he's been taking money without my instructions. Being the owner of the company I approached the bank to change his details to mine but I was told I can't unless he signs off. The challenge I have is out of fear he has refused to show up. I even sent him the form to complete and sign he said he can't remember the signature he used and he will have to visit the bank which is taking too long thanks to COVID-19, because he claimed he hasn't operated the account for years. Now my dilemma is how can I get him off as the signatory without him having to sign or being present.

My major fear now is in fact him using the company name to perpetrate fraud or moving funds out. I have the chequebook so I don't understand how he was able to withdraw without the chequebook. Thanks all.

How many years ago?

Gandollar:
You don't understand how someone can withdraw from an account he operates without the cheque book?

My advice would be too advanced for you to comprehend so I'll just pass.

What I meant was I have always had the cheque book with me and ordinarily he shouldn't be able to withdraw from a corporate account with a normal teller..

Globad:


How many years ago?

About 5 years ago since I opened the account but he claimed he hasn't used it in 2 years. I need to start running it back..

callthefred:


About 5 years ago since I opened the account but he claimed he hasn't used it in 2 years. I need to start running it back..

Does your name appear in any of the company's documents like Memart?

What was the mandate instruction?
If your mandate instruction says "BOTH TO SIGN", he must surely sign the documents. However, if your mandate instruction states" EITHER TO SIGN" which I want to believe is the case(because he made withdrawal while you didn't sign), he doesn't need to fill any form. Only you can initiate the mandate change. You may have to initiate the change as soon as possible to avoid loss. Send a mail to your bank to get the nearest branches that are opened for services. Go there with him. I rest my case

callthefred:
Thank you for checking this out, I'll make it brief.. A few years back I had to travel out and in order to keep my business running, I made my best friend signatory to the company account.. Now after a few years I'm back and I discovered he's been taking money without my instructions. Being the owner of the company I approached the bank to change his details to mine but I was told I can't unless he signs off. The challenge I have is out of fear he has refused to show up. I even sent him the form to complete and sign he said he can't remember the signature he used and he will have to visit the bank which is taking too long thanks to COVID-19, because he claimed he hasn't operated the account for years. Now my dilemma is how can I get him off as the signatory without him having to sign or being present.

My major fear now is in fact him using the company name to perpetrate fraud or moving funds out. I have the chequebook so I don't understand how he was able to withdraw without the chequebook. Thanks all.

Its a very simple solution here; Simply empty the account and open another corporate account with only your signature or trusted brother/sister. Simple as ABC.
Dont even close to account as this he will find out, just empty the account and move on.

Who signed the board resolution?? If you are, with your secretary, Just issue another board resolution that the other signatory has been laid off and you want the signatories to the account be changed. Hope it helps.

tommyken:

Its a very simple solution here; Simply empty the account and open another corporate account with only your signature or trusted brother/sister. Simple as ABC.
Dont even close to account as this he will find out, just empty the account and move on.

It's not as simple as that. If the guy in question use the account as a means to move money fraudulently, the innocent guy here will have a case to answer, if he eventually comes out of the case, he must have spent good money. I'll advise him to close the account and open another or better still, seek advice from his account manager.