By Rae Ann Varona (June 24, 2022, 6:23 PM EDT) — The Delaware Chancery Court on Friday ordered the founder of a “visas-for-investment” venture to pay nearly $2.4 million to his company, saying he breached his duties to act in the company’s best interest when he made improper money transfers.
Vice Chancellor J. Travis Laster said in his opinion Friday that Joseph Manheim, the founder and managing member of Delaware Valley Regional Center LLC, or DVRC, was liable to the company for a total of $2,365,809. That amount is based on findings that Manheim used DVRC funds to make excessive payments to friends, family, and another company he and his wife owned….
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