This is in regards to Joga Minhas who formed Minhas Corporation in order to buy gas stations (primarily Arco AMPMs). In order to fund the purchase of the gas station, he solicits money from family or people in social circle promising them percentage of the partnership based on the money received. After the funding is complete, Joga never actually officially adds anyones name to the partnership corporation (Minhas Corporation) which owns the business.
1. This was first done with a close family member when he originally purchased an auto repair shop. Solicited money and got people to invest but later took the money and kicked them all out since he officially never gave them anything in writing.
2. Arco AMPM Ceres Location (2507 N. 9th St. Ceres, CA): He solicited money from two brothers (Bhinda and Gurmail) in a 50/50 partnership and purchased the gas station but never added their name in to Minhas Corporation as this was the first gas station purchase. When they demanded visibility into the finances and profits, he kicked them out citing that they were only employees. He never gave them any of the profits as both brothers had uprooted their family to live next to the gas station. Both of them being illeterate, they never filed any suits and basically asked him to return the money he had gotten from them and left to go live in Denver.
3. Second arco purchase with his nephew who put down 50% of the cash to fund the purchase and actually managed the gas station by leaving his job in the bay area working as high tech engineer. He did the same thing by not adding his name into minhas corporation and kept promising that he will do it next day which turned into months and years. He eventually sold the gas station and pocketed over 1.6Million USD and did not return any profits to his nephew.
Currently there is a pending lawsuit against Joga MInhas and MInhas Corporation to recover 50% of the partnership proceeds.
As the investigation goes, there seems to be major IRS tax fraud as well.
Minhas Corporation Reviews
This is in regards to Joga Minhas who formed Minhas Corporation in order to buy gas stations (primarily Arco AMPMs). In order to fund the purchase of the gas station, he solicits money from family or people in social circle promising them percentage of the partnership based on the money received. After the funding is complete, Joga never actually officially adds anyones name to the partnership corporation (Minhas Corporation) which owns the business.
1. This was first done with a close family member when he originally purchased an auto repair shop. Solicited money and got people to invest but later took the money and kicked them all out since he officially never gave them anything in writing.
2. Arco AMPM Ceres Location (2507 N. 9th St. Ceres, CA): He solicited money from two brothers (Bhinda and Gurmail) in a 50/50 partnership and purchased the gas station but never added their name in to Minhas Corporation as this was the first gas station purchase. When they demanded visibility into the finances and profits, he kicked them out citing that they were only employees. He never gave them any of the profits as both brothers had uprooted their family to live next to the gas station. Both of them being illeterate, they never filed any suits and basically asked him to return the money he had gotten from them and left to go live in Denver.
3. Second arco purchase with his nephew who put down 50% of the cash to fund the purchase and actually managed the gas station by leaving his job in the bay area working as high tech engineer. He did the same thing by not adding his name into minhas corporation and kept promising that he will do it next day which turned into months and years. He eventually sold the gas station and pocketed over 1.6Million USD and did not return any profits to his nephew.
Currently there is a pending lawsuit against Joga MInhas and MInhas Corporation to recover 50% of the partnership proceeds.
As the investigation goes, there seems to be major IRS tax fraud as well.