CEOs of properly formed corporations aren’t personally liable for going out of business.
The reality is that startups that run out of money are out of money — there is no value in suing…
Alexander Muse

Criminally liable? Potentially. She is stating that you are playing a dangerous game when you do that.

The second you know that you cant make payroll for any more hours worked is when you should let people go. You are a good person for being honest and upfront, but you are breaking the law if these people stick around and you continue to have them on paper as employees.

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