We broke up can I keep the money?

munkykisser

I wasn't giving advice it was always agreed between us where it went. It was only in my name as I wasn't paying tax. Would that not be seen as tax evasion on their part? 

It's obviously now a bind. I'm going to sell up what I can. The rest is illiquid so I have no choice but to leave that. 

thorsoak

If seen as tax evasion on their parts, it would also be seen as collusion (i.e. money laundering) on yours.   I wouldn't go down this road, were I in your shoes.

rach_k

Work out what's it's all worth right now, whether you can get hold of it or not.  Pay them 1/3 each of what you can cash out now and transfer your own 1/3 to another account so there's no confusion.  When you can access the rest of it, pay each of you another third and repeat until it's all gone.  

munkykisser

These answers are great. Glad I asked. I'll crack on with this next week. Now all I have to do is find all the passwords... (Argh!)

tatartan

Reading that original post made me feel very uneasy, but then again if somebody left a quid in my car I'd keep it for them for when I next saw them- I would never see it as mine. If they have paid in a share then they are due that share back no matter how nasty they have been or any other rationale you can use to convince yourself its ok to keep it. Checking to see the consequences of keeping it and trying to work out how difficult it would be for them to get it is really unsettling. I like to think that people that think this way are in the minority, do the right thing! I know you know what that is.

maman

I'm pleased that OP seems to be taking the advice on here. It reminded me of those stories of people who acted as treasurer for Christmas savings accounts and then absconded with the money. 

pickledonionspaceraider

If they have treated me badly, I would want shot of them, give them their money and wave them bye
They are not going to let this lie.
They are just going to keep asking, and in a way it is you keeping them in your life - put a stop to it give them their money and end the entire debacle 

prowla

I think that the yearly status/summary emails may be evidence of a contract.

itsanne

You don't have "some money", ie the money in the account. You have one third of "some money".  Two thirds does not belong to you, whether you need it or not. Refusing to return it is theft and your opening post seems to be asking how to get away with theft.

However, if the investment has reduced in value, you owe them what it was worth when they asked for their money back, not the amount they contributed. At least you only have to stomach a third of the loss. 

Jackmydad

. . . And the moral of the story is.
Don't get involved in any sort of financial arrangement on the behalf of others.
It inevitably ends in grief of some sort.