My question involves business law in the state of: Va
I purchased a small business less than 1 year ago. In a post review of the due diligence documents given to me by the previous owner, I noticed some expenses that appeared to be unrelated to the business posted in the previous owner's books. These expenses were not disclosed by the previous owner but they were in the financial documents that I received from them during the due diligence period. I did have an accountant review the due diligence documents as well as my banker. I was unable to get a loan to purchase the business because the business showed little to no profits during the financial review period. I was able to scrape up enough cash to buy it but now I have very little operating funds to keep the business open. Would this be considered fraud by the previous owner giving me grounds to retract the purchase agreement and receive a refund of the sales price?

