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Case Study Of Jerry Drizin

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A group of local farmers in Iowa raised some money in order to build an ethanol plant, Jerry Drizin formed a corporation with the purpose of assisting in raising the additional funds needed to complete the project. After forming his corporation with $250, Drizin deposited the farmers’ money along with a co-mingling of his own money into a bank and began a series of transfers that ultimately resulted in the loss of the $3.8 million of the farmers’ money. Is Drizin protected because he formed a corporation? A corporation is a legal entity designed to shield its owners from liability claims brought against it, as long as they maintain a separation from the entity (Legal-Dictionary.com, 2015). The co-mingling of Drizins’ personal funds into

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