Fake LLC discovered. What should I do?

[Kevin Gregg]

So a few Army buddies and I each chipped in 10k each to buy rental properties under an LLC. As the years have gone by it appears the "buddy" that runs it has been lieing to us and we dont own the properties that he says we do. He has been making false income and expense statement and putting them out each quarter. I called the local police and they say they cant do anything. Suggestions?

[Clifford Paul]

Originally posted by @Kevin Gregg:

So a few Army buddies and I each chipped in 10k each to buy rental properties under an LLC. As the years have gone by it appears the "buddy" that runs it has been lieing to us and we dont own the properties that he says we do. He has been making false income and expense statement and putting them out each quarter. I called the local police and they say they cant do anything. Suggestions?

 Forget the civilian authorities, if y'all are still in the military go to his chain of command. The military takes fraud and thefts very serious. Does not have to military related. His security clearance in jeopardy thus his job in the military. 

When I was a Sergeant Major most of my days were spent dealing with this kind of stuff everyday.