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by adventured 4564 days ago
It's not going to get real messy unless he wants to go to jail for fraud / theft / embezzlement.

You need to present your case to the board, there is no other good way to go. If they side with you, your co-founder will have no choice but to turn over control of the money, and in fact you should encourage the board to force the point on the money / passwords / etc controls anyway.