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SWANSON v. FUTURES UNLIMITED, INC.

No. 3-983A287.

457 N.E.2d 241 (1983)

Rollin D. SWANSON, et al. v. FUTURES UNLIMITED, INC., et al. v. RICHARD R. DECAMP, Receiver for Futures Unlimited, Inc., Cross-Complainant, Appellant, v. EDWARD SNAPP AND ANN PASKINS, Cross-Defendants, Appellees.

Court of Appeals of Indiana, Third District.

December 20, 1983.

Attorney(s) appearing for the Case

David M. Wright, Wright, DeCamp & Wright, Fort Wayne, for appellant Richard R. DeCamp, Receiver.

James L. Larson, Fort Wayne, for appellees Edward Snapp and Ann Paskins.

STATON, Judge.

Rollin Swanson and Wayne Bull sued Futures Unlimited, Inc. (Futures) and Edward Snapp, alleging that they loaned $25,000 and $5,000 respectively to Futures in exchange for shares of stock in Futures and repayment of the principal amount of the loans within one year. Swanson and Bull also alleged that they believed that Snapp, who was the majority shareholder and president of Futures, intended to dissipate the assets of Futures in order to avoid repayment...

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