I invested in a business & the individual did not provide invoices of any purchases & he took the money to use for himself. We had a written agreement & it was notarized. He has not payed me back the full amount that was invested as agreed upon ...
Your counsel handling the lawsuit should also file a complaint with the Texas Securities Commission and perhaps a Dodd-Frank whistleblower submission to the SEC:
I gave $150K for an investment with a signed contract that the principal was guaranteed back to me. It's been 5 years and he says they lost the money. He says if I take him to court he will have the whole thing thrown out by claiming bankruptcy an...
You and your fellow investors need to hire counsel not only to sue this guy but to possibly get the SEC or another regulator to commence a receivership proceeding. Otherwise, you're looking at chasing this guy down on your own, which can take years of asset tracing and private investigator costs. Your communications with state and federal regulators should be coordinated by counsel and prepared with their assistance. You should also consider hiring a private investigator at this point to see what this guy owns or owned, and what his true financial situation is. One thing in these sorts of cases is that money is often used for non-investment purposes. You may have "fraudulent conveyance" claims that should be pursued.See question
I could not find anything that specifies the illegality of the mere investment itself in an HYIP - only if your operating a Ponzi and are being fraudulent. I am willing to pay any taxes owed if I make profit, by all means. But is it illegal in any...
The sale of securities, just like anything, can be fraudulent. It doesn't matter what the investment is. These "high yield" programs are frequently the mechanisms used by scam artists and others to bilk people of their funds. Frankly, there is no such thing as a "high yield investment program" that isn't offered by a registered entity such as an investment adviser or broker-dealer. All this being said, you should check the FINRA and SEC websites to see if any of these companies or individuals associated with them are registered or perhaps exempt from registration.
If you are worried about paying taxes on your returns, you should have been paying them whether the investment was a scam or not. Your bigger issue is whether a regulator is going to "claw back" your profits to distribute to people have nothing.See question
Pls contact me. Thanks.
Attorneys on AVVO are prevented from rendering recommendations. You should be able to find a real estate securities attorney licensed in TN and in your area through AVVO or through the Hamilton County Bar Association.See question
Two billions companies form a MLM company recruiting distributors. CEO of marketing company posts in its website that if anyone pays $1000 to his company, his company promises to help him to receive a car plus monthly income within one month. CEO ...
With the assistance of an attorney, you should also file a complaint with the Pennsylvania Securities Commission's enforcement staff. Be aware that in the case of a class action, the class needs to be "certified" once the complaint gets past a motion to dismiss. But the bigger issue is whether there's money at the end of the rainbow. Your attorney may want to explore getting a receivership in place so that funds used improperly are returned to their rightful owners.See question
I don't know a better way of describing what we'd like to do, however here's the skinny. We own over $2M in shares of a really exciting company that the market has not yet discovered. It just so happens we're also internet marketers. Is it legal f...
This is what happens when you do what you propose:
I've moved your question to "white collar crime," which is where it belongs.See question
Hello, I'm Striving To Venture Into The Stock Pick Service Business. I Have An Options Certificate. Will I Be In Any Violation Of The Securities And Exchange Commission Guidelines?
You state you have an "options certificate." By this do you mean an actual license that is hung with a FINRA member broker-dealer? If so, your "stock picking" service would likely be something your firm should know about so you are not violating "selling away" regulations.
If you are not licensed with a broker-dealer, you are in playing in a dangerous area. Your "service" will likely be considered as investment advice requiring a license or exemption from licensing as an investment advisor under state and/or federal laws. But no one can say for sure without further facts.
If you are serious about this, you need to contact a securities attorney to discuss how to proceed without running amok of securities laws.See question
I have been with the present company more than 14 years and been in the same business over 20 years. It is in outside sales. The agreement required is 7 pages long and covers every contingency. The final paragraph states that, "Notwithstanding the...
If you are a FINRA registrant, this non-compete could be prohibited if it prevents you from brining your clients to another firm. You will need could to review not only the NCA but anything you have regarding the purchase of your previous firm.See question
I lost my retirement to a ponzi scheme. Soon after that firm and the owner filed for bankruptcy. I was recently contacted by a deluge of financial firms offering to buy out my claim...one of my worries, among many, is that these businesses tend to...
When you work with one of these companies, they are betting that they will receive a multiple of the payment they make to you for the claim, sometimes in excess of 100% of what you are paid by the firm that purchases your claim. In return for ready cash, you generally forego any further recovery in the bankruptcy, although have I seen some claims sales allow people the right to chase non-core parties for relief. You can and should negotiate such terms to the extent possible. Whatever the case, you should retain counsel to assist you.See question