Investor NOT protected by LLC?!?

[Mindy Jensen]

A new development out of Atlanta this week. An investor has been held liable for the exceptionally poor conditions of his properties, even though they were held by an LLC that was not under his own name.

He argued that since he was not the owner or operator, but simply the manager, that he shouldn't be held responsible for the property conditions. 

Check out this article about the verdict and this one about his arguments against being hld liable.

What do you think?

[Kyle J.]

Generally speaking, LLC's are designed to protect your personal assets in the event someone pursues a claim against the business. It's not designed to protect someone from responsibility when it comes to a jailable offense. You can't put a LLC in jail. Some PERSON has to be held responsible, and it happens all the time. Ever watch American Greed? Presidents, CEOs, and owners of companies go to jail all the time for things they did on behalf of, or while operating under, their business.