What is the name of your state (only U.S. law)? California, Los Angeles County
I have a case that would give anyone a migraine headache. I will try to keep it as simple as possible, however I'm sure more information will be asked. Please be patient as you read this.
Approximately four years ago my wife and I invested into a real estate venture through a friend. It was an investment of jr. notes. We did this for a couple of months when the person doing the investing, Maria Arche (being sentenced Jan. 12th Fed Court 1:30pm Santa Ana Ca.) reached out to me to speak to me about my friend whom I was giving the money to to invest. Maria told me that every dollar that I got from my friend, he was also getting. Not the 3% I was told by my friend., 50%. I was told by Maria that if I went direct with her, I would make more money. After speaking this over with my wife, we did not want to confront my friend. We just told him I wanted out and I need my money back. This was done in a two week time frame.
I then started to invest directly with Maria Arche for 2 years. It was the worst two years of my life as she would never pay on time. I had other friends and relatives invested into Maria and always made sure they got paid on time before I ever took a penny. I tired numerous times to get out of Maria, however she would always come back with a sad story and convince me it would be better. In Nov of 2006 my in-laws and other relatives wanted out of Maria. They said they found another source to do the same type of investing without the hassles of Maria. That being said, all of my wife's relatives were give their money back. We could not get any information at any level on who this new source is for the investment purposes. My wife's entire family clammed up and would not say one word to us about anything. Needless to say, this caused an enormous amount of strife with us and it really hit my wife hard. She could not understand why the sudden change and the lack of communication. In late Dec. of 2005 my wife had a complete meltdown and I she almost died. She was in the hospital for 10 days. I was completely devastated by the chain of events and nothing was getting any better.
The family turmoil continued into the new year, when in Feb., my wife's brother spoke to us about the person they have been investing with. Long story short, it was with a person whom owned their own business and all we were told was her name was 'Rachel'. My wife and I attempted to ask many questions about 'Rachel' to her entire family and once again, we were told nothing. The only item we were told through letters is 'if we cannot trust her brother in investing our money as they did, then we are not very good people'. So, needless to say, we were pressured to invest into a person we do not know, cannot get a background check done, cannot even find out what her business is.
We began to invest into Rachel in March of 2006. We gave our money to my wifes brother. For a few months it went well, however, my wife and I still pushed to get answers on this 'Rachel' person. We could not and it was truly bothering me.
This brings us to the case I have questions on. During the early summer time of 2006, I spoke to another investor of Maria's. He was having the same issues as me and was going insane with her. I told him about this person we had invested into and so far it was working out. I was slowly getting my money out of Maria and giving it to my brother-in law who then in turn gave it to 'Rachel'. This investor wanted to end his headaches with Maria as I did. This investor then gave me $96K to invest. It came from his company. It was invested. During the short time frame, this person was paid back $41K of the $96K by my company.
Then one day in Sept. of 2006 I hear that Maria is about to be arrested. Of course I panic, but I know for the most part I'm covered because my brother-in law and sister in law had my account transferred from Maria to Rachel in the Aug. 2006 time frame. At the end of 2006, I was having a conversation with my father in law about how bad Maria screwed me and others and Rachel looks like a decent thing. This is when the bomb came. My father in law told me that 'Larry, there is no Rachel, Rachel is Richard'!!!!! Needless to say I was dumbfounded, shocked and extremely upset.
I just found out that my wife and I had been lied to by her entire family and duped into investing into Rachel. Back in Nov. of 2006 apparently my wife's relatives called Richard up to see if the return they were getting from us was correct. Richard was the person I had invested in originally. Richard told them 'oh no, it is much more then that'. Later on everyone found out that this was a complete lie by Richard. Needless to say Richard told my wife's relatives he could handle Maria, he knew how to make her stay on top of things. He would also guarantee everyone's money via his company. Richard then came up with the idea of Rachel, allowing my wife and I to invest. We were told this by everyone. The entire family played along with this.
Needless to say, if we had any idea our money was going back to Maria, we would have NEVER allowed for this to occur as I was doing everything to get out of her. All this time, I thought the money was coming out of Maria and going to another person 'Rachel'. Currently I have a lawsuit against my wife's brother in law and Richard. We found out that the money that I gave to my brother in law was given to Richard, however he never gave it to Maria.
So now this brings me to my question. My investor who gave me $96K to invest was sued by the people that gave him their money. It dragged on for many months and they just as of last month, settled out of court. However, in the meantime, those people who gave my investor the money are suing me. Until I was deposed for my investors suit, I had never heard of the other party at any level. My question is, why are they coming after me and what can I do to stop a default they are trying to attain. This lawyer is nothing more then an ambulance chasing lawyer and is beading her client. I never heard of their client. Also, my investor was already paid back $41K of the original $96K and he never paid his investor back. Why is this my issue. I had a fiduciary right to take care of my investor, not someone else's, and I have.
I'm not a lawyer and I'm in the middle of attempting to get my Chapt. 7 completed. That's another long story. Needless to say this other party is pushing forward and I have no idea where to turn or what to do. I have another hearing at the end of Feb. However I know I have to do something and file something to help support my case. My last question is why isn't this other party going after the people I gave the money to? I have a feeling I know why, I already have a suit against them and she knows it, so why waste her time because she knows my wife and I were defrauded, duped and taken advantage of by many.
I know this is long and laborious to read, however there are many facets of this story that must be understood. Lastly, I look forward to everyone and anyone who can assist a family who was just an average family getting by to now a family who is on the verge of losing their home. Thank-you in advance.
I have a case that would give anyone a migraine headache. I will try to keep it as simple as possible, however I'm sure more information will be asked. Please be patient as you read this.
Approximately four years ago my wife and I invested into a real estate venture through a friend. It was an investment of jr. notes. We did this for a couple of months when the person doing the investing, Maria Arche (being sentenced Jan. 12th Fed Court 1:30pm Santa Ana Ca.) reached out to me to speak to me about my friend whom I was giving the money to to invest. Maria told me that every dollar that I got from my friend, he was also getting. Not the 3% I was told by my friend., 50%. I was told by Maria that if I went direct with her, I would make more money. After speaking this over with my wife, we did not want to confront my friend. We just told him I wanted out and I need my money back. This was done in a two week time frame.
I then started to invest directly with Maria Arche for 2 years. It was the worst two years of my life as she would never pay on time. I had other friends and relatives invested into Maria and always made sure they got paid on time before I ever took a penny. I tired numerous times to get out of Maria, however she would always come back with a sad story and convince me it would be better. In Nov of 2006 my in-laws and other relatives wanted out of Maria. They said they found another source to do the same type of investing without the hassles of Maria. That being said, all of my wife's relatives were give their money back. We could not get any information at any level on who this new source is for the investment purposes. My wife's entire family clammed up and would not say one word to us about anything. Needless to say, this caused an enormous amount of strife with us and it really hit my wife hard. She could not understand why the sudden change and the lack of communication. In late Dec. of 2005 my wife had a complete meltdown and I she almost died. She was in the hospital for 10 days. I was completely devastated by the chain of events and nothing was getting any better.
The family turmoil continued into the new year, when in Feb., my wife's brother spoke to us about the person they have been investing with. Long story short, it was with a person whom owned their own business and all we were told was her name was 'Rachel'. My wife and I attempted to ask many questions about 'Rachel' to her entire family and once again, we were told nothing. The only item we were told through letters is 'if we cannot trust her brother in investing our money as they did, then we are not very good people'. So, needless to say, we were pressured to invest into a person we do not know, cannot get a background check done, cannot even find out what her business is.
We began to invest into Rachel in March of 2006. We gave our money to my wifes brother. For a few months it went well, however, my wife and I still pushed to get answers on this 'Rachel' person. We could not and it was truly bothering me.
This brings us to the case I have questions on. During the early summer time of 2006, I spoke to another investor of Maria's. He was having the same issues as me and was going insane with her. I told him about this person we had invested into and so far it was working out. I was slowly getting my money out of Maria and giving it to my brother-in law who then in turn gave it to 'Rachel'. This investor wanted to end his headaches with Maria as I did. This investor then gave me $96K to invest. It came from his company. It was invested. During the short time frame, this person was paid back $41K of the $96K by my company.
Then one day in Sept. of 2006 I hear that Maria is about to be arrested. Of course I panic, but I know for the most part I'm covered because my brother-in law and sister in law had my account transferred from Maria to Rachel in the Aug. 2006 time frame. At the end of 2006, I was having a conversation with my father in law about how bad Maria screwed me and others and Rachel looks like a decent thing. This is when the bomb came. My father in law told me that 'Larry, there is no Rachel, Rachel is Richard'!!!!! Needless to say I was dumbfounded, shocked and extremely upset.
I just found out that my wife and I had been lied to by her entire family and duped into investing into Rachel. Back in Nov. of 2006 apparently my wife's relatives called Richard up to see if the return they were getting from us was correct. Richard was the person I had invested in originally. Richard told them 'oh no, it is much more then that'. Later on everyone found out that this was a complete lie by Richard. Needless to say Richard told my wife's relatives he could handle Maria, he knew how to make her stay on top of things. He would also guarantee everyone's money via his company. Richard then came up with the idea of Rachel, allowing my wife and I to invest. We were told this by everyone. The entire family played along with this.
Needless to say, if we had any idea our money was going back to Maria, we would have NEVER allowed for this to occur as I was doing everything to get out of her. All this time, I thought the money was coming out of Maria and going to another person 'Rachel'. Currently I have a lawsuit against my wife's brother in law and Richard. We found out that the money that I gave to my brother in law was given to Richard, however he never gave it to Maria.
So now this brings me to my question. My investor who gave me $96K to invest was sued by the people that gave him their money. It dragged on for many months and they just as of last month, settled out of court. However, in the meantime, those people who gave my investor the money are suing me. Until I was deposed for my investors suit, I had never heard of the other party at any level. My question is, why are they coming after me and what can I do to stop a default they are trying to attain. This lawyer is nothing more then an ambulance chasing lawyer and is beading her client. I never heard of their client. Also, my investor was already paid back $41K of the original $96K and he never paid his investor back. Why is this my issue. I had a fiduciary right to take care of my investor, not someone else's, and I have.
I'm not a lawyer and I'm in the middle of attempting to get my Chapt. 7 completed. That's another long story. Needless to say this other party is pushing forward and I have no idea where to turn or what to do. I have another hearing at the end of Feb. However I know I have to do something and file something to help support my case. My last question is why isn't this other party going after the people I gave the money to? I have a feeling I know why, I already have a suit against them and she knows it, so why waste her time because she knows my wife and I were defrauded, duped and taken advantage of by many.
I know this is long and laborious to read, however there are many facets of this story that must be understood. Lastly, I look forward to everyone and anyone who can assist a family who was just an average family getting by to now a family who is on the verge of losing their home. Thank-you in advance.