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Lars Kristian Soreide

Lars Soreide’s Answers

18 total

  • I invested in companies, paying by credit card. The companies were frauds. Can I recover my money from the credit card company

    2007, I invested $14,000 in 2 companies, paying by credit card. I never received any money from the investments. Both companies closed and criminal charges for fraud were filed by the U.S. Postal Inspectors. I filed a consumer complaint with t...

    Lars’s Answer

    Most likely not for a number of different reasons. This investment took place in 2007, so after 6 years most all claims would be time barred. Also the act of processing a credit card doesn't necessarily provide any proof of any culpable negligence. Best bet is to contact your state's division of securities and hope that after a criminal prosecution ensues you will be awarded some level of restitution you can collect. Good luck.

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  • Personal Injury Claim with Insurance Companies: Can a claimant self represent and process a lawsuit in Florida?

    Can a claimant self represent in a lawsuit? If and when this claimant decides to self represent, what pros and cons are there? Multiple car accidents so multiple UM policies are involved.

    Lars’s Answer

    I hire lawyers and I am a lawyer. Ever hear the saying anyone who represents himself has a fool for a client? It is very hard to be impartial and objective when you are representing yourself. I did it once for myself in a breach of patent action in Federal court because I didn't want to pay a patent attorney to enforce my patent. I quickly realized that it was impossible because I would have to be a witness. Hire a lawyer, most personal injury lawyers work on a contingency fee so there are not up front costs. If you think the contingency fee is too much then negotiate with them you will be surprised to learn how flexible some of them are.

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  • How the checks consider as a proof of debit if i use it in the court or to sue someone?

    mi going to loan a friend 5000 $ . and he told me he can sign a checks under his name which will be used as a proof if he didn't pay me back my money . is there any document i can do can protect my money if he didn't pay me back ?

    Lars’s Answer

    Consider going online to a free lawyer document site like docstoc and get a promissory note template off that site to get your friend to sign. Also many states require the promissory notes to have documentary stamps or doc stamps attached to them to be valid. Consult a local CA attorney. Also consider a simple contract which you can also pull off that same site just to memorialize the entire scope of the deal in writing. Good luck.

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  • My ex-husband may be receiving settlements for investments we made while married. How can I find out if this is true.

    These investments were made, then the companies claimed bankruptcy. We divorced last year and now he is saying that he did not receive anything. Yet, I know that the court payed out. Can I find out about ALL our investments some how? And if so...

    Lars’s Answer

    If the settlements are so significant that you think it will change what alimony and or child support might be owed to you then consult with your divorce attorney and consider issuing him a subpoena to obtain those records.

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  • Gave $ to a friend as an investment to open a business. The money has been spent, but not on the business. Can I get it back?

    I gave the money 6 months ago thinking she was close to opening but the business is not open and no anticipated open date. I have asked for receipts on how the money has been spent but have not received anything yet. We do have a signed agreemen...

    Lars’s Answer

    Since this is a friend you may not have a contract involved which is unfortunately too common. I hope you documented the payment at least by lending the money by check and writing in the memo loan so there is at least a record of it. From what you posted sounds like you have a pretty straight forward breach of contract case and will need to consult a lawyer about filing suit. Also might want to consider pursuing a civil theft claim which could entitle you to treble damages. Sounds like he just took the money and ran.

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  • Hedge fund invested in a pontiff when they said they do their own trading . Can i sue for my money back

    I invested in a hedge fund that invested 80s of the money into a pontiff , this was never mentioned in the initial agreement and they said they were conservative and did their own trading . . what can i do ? th

    Lars’s Answer

    Start by pulling the ppm and the account opening documents with this firm. There may be an arbitration clause and a forum selection clause. This would limit your ability to pursue legal action if for instance they were out of state. If there investment policies or procedures stated in the ppm wasn't what took place in practice than you may have a claim. Good luck!

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  • My financial consultant invested me in Unit Investment Trust instruments which tanked in 2008, I lost $40,000! How do I recover?

    I continually instructed this financial consultant to protect my $ 72000 principle , no matter what the investment . He never listened to my continuous demands ! Total principle loss is $ 17000 . I'm 62 and he had my account for 7 years .

    Lars’s Answer

    I have sued over these products before and won. This would have to be brought before the Financial Industry Regulatory Authority or FINRA and there is a 6 year statue of limitations to bring claims. UITS are a relatively new investment vehicle and most investors are not fully aware of the many risks associated with these instruments. a UIT is a fixed portfolio with a finite life that invests in socks or bonds. It is essentially a static basket of securities with an expiration date. UITs are very expensive to invest in and carry large sales charges. There is a large up front sales charge or “load” with an additional sales charge being charged over the life of the UIT all going to compensate the broker. In addition to the large sales charges UITs carry recurring fees for administration charges which can be as high as 1%. When a trust expires and it is rolled over into a new but almost identical UIT, the investor gets hit again with a new up font sales charge and commission running over the life of the new UIT. Compared to the average unmanaged index-fund the investor pays almost 8 times the commission and administrative fees to purchase a virtually identical basket of securities. Depending on how aggressive of an investor you were and what your risk profile is you should consider suing.

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  • Bankruptcy and Lawsuit

    I am suing someone who may file for bankruptcy. If this person goes through with it, will he still need to answer my lawsuit or will it get thrown out?

    Lars’s Answer

    If it is a legitimate bankruptcy and you are named as a potential creditor the lawsuit will be stayed until the bankruptcy court discharges the debt. Consider consulting a local attorney because there are certain circumstances where he will not be able to discharge the suit for instance if you are alleging fraud. Here is a list of debts that can't be discharged under chapter 7 of the bankruptcy code:

    Taxes and tax liens
    Student loans
    Alimony and child support (domestic support obligations)
    Debts obtained through fraud, false pretenses or false representation
    Debts you failed to schedule in time to allow creditors to file proofs of claim (unscheduled debts)
    Debts for fraud while you were acting in a fiduciary capacity, or for embezzlement or larceny
    Debts for willful and malicious injury
    Debts for fines or penalties to governmental units
    Debts for judgments in wrongful death or personal injury lawsuits resulting from motor vehicle, vessel or aircraft accidents while you were intoxicated
    Condominium or cooperative association fees or assessments

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