Owner closing business - any risk to me as an employee?

Question

I work as Mike for a company XYZ. I am on payroll as Mike. Owner decides to start a new company ABC. Wants me to work as John from ABC instead of Mike so that both companies can be kept seperate and can be differentiated. I have no share in either of the companies, and on payroll just an employee of XYZ. No Seperate salary given for ABC. Both companies do well for about 5 years, no problems. After 5 years owner decides to close down ABC. Is it any risk to me (worked as John in that company) as an employee if the owner decides not to pay any balances owed by ABC? Both companies are inc.

Total employees in XYZ are about 15. All of these work under assumed name for ABC. Its not only me.

No employee is on payroll for company ABC. All employees are on payroll only for company XYZ. Also, the vendor to whom the money is due.. abt $10M-15M business is done with them in these years.. money owed at this time is abt $100K.

Answer 1

If you falsified your identity (working as mike in one place and john in another) you can definitely get in trouble for that.

If you took part in illegal or fraudulent business practices, then you could get in trouble for that.

If haven't done anything illegal and you haven't personally signed for any debt for the company, then you'll be fine.

Answer 2

Start updating your resume, just in case.<}:-})

Answer 3

risk? you mean other than the fact that you are guilty of fraud and using a false identity for monetary gain?

why would you work for someone who is so shady?

get another job quick!