WINFIELD – The Logan Corporation is suing a Florida man who was president of the company five years, claiming he was unjustly enriched at the corporation’s expense.
Zachary M. Taylor was employed by Logan beginning in November 2003 and became president of the company in January 2011 and continued in that capacity until his resignation in May, according to a complaint filed Dec. 2 in Putnam Circuit Court.
Logan claims during the time of his employment, he was provided one or more corporate credit cards for his use.
During his use of the credit cards, Taylor charged an overall amount of $296,432.06, according to the suit.
Logan claims the defendant’s charges appeared to be personal in nature and/or for which no business purpose has been properly documented and for which should not have been reimbursed.
The review of the corporate records related to Taylor shows that since January 2011, until the time he left, Taylor caused corporate funds to be expended at his specific request and for which no corporate purpose has yet been provided in the total amount of $143,342.12, according to the suit.
Logan claims Taylor also caused corporate funds to be expended for generalized cash advances and for specific cash advances in the total amount of $40,850.49.
The plaintiff has paid funds in the total amount of $480,624.67 and has demanded payment from Taylor in that amount, according to the suit.
Logan claims that Taylor breached his fiduciary duty and his actions constituted fraud and constructive fraud, as well as negligent misrepresentation.
Taylor was unjustly enriched at Logan’s expense, according to the suit.
Logan is seeking compensatory and punitive damages with pre- and post-judgment interest. It is being represented by Scott K. Sheets of Dinsmore & Shohl LLP.
The case is assigned to Circuit Judge Joseph Reeder.
Putnam Circuit Court case number: 16-C-291