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Investment with a friend

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pamelarow

Junior Member
What is the name of your state (only U.S. law)? Florida.

I was dating this man and he told me his internet based company would make a lot of money but he was having trouble staying afloat at the present. So I gave him $10,000 and he gave me an investment contract. Then he asked for more so I gave him $15,000 more but found out that he sent $25,000 to his xwife for back child support. He said this just came up and that he had to do this to stay out of jail although he hadn't paid child support for about 7yrs. He said our contract should still be good because he plans on being successful anyway. I also found out that he has borrowed the same amount from 4 different people. He is so far in debt he'll never catch up. However, I learned that a man offered him somewhere around $30,000 but he rejected offer because this man wanted a greater percentage of the company than he was willing to give.

My question is this... can I take him to court and make him accept whatever terms this other man wanted so he could pay me back?

Thank you for you time in advance.

Pam
 


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tranquility

Senior Member
No, you can't. Depending on the contract, you may not be able to sue him at all, let alone force him to sell the business to another so you can get your money.
 
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sandyclaus

Senior Member
You can't "FORCE" the guy to sell just to pay you back. Apparently, you're one of four people (from your account) that fell for this guy's investment scheme. Sounds to me like there never was any intention to follow through on his part, and he was just looking for people to fund his other debts, including that child support bill.

Sure, you could sue, but it might cost quite a bit and take a bit of time to pursue this. It's higher than the small claims limits, so that means hiring an attorney and making your way through the court systems. But in the end, if you do win, what the judge will do is award you a judgment. Collecting the money will still be up to you.

The lesson to be learned here is to fully investigate anyone you are going into business or investing that kind of money with - BEFORE you end up on the short end of the stick. I'm not talking about just checking out the business, but the PERSON as well. I think that had you do so, you may not have been quite so generous with your bank account.
 
H

Hot Topic

Senior Member
pamelarow said:
What is the name of your state (only U.S. law)? Florida.

I was dating this man and he told me his internet based company would make a lot of money but he was having trouble staying afloat at the present. So I gave him $10,000 and he gave me an investment contract. Then he asked for more so I gave him $15,000 more but found out that he sent $25,000 to his xwife for back child support. He said this just came up and that he had to do this to stay out of jail although he hadn't paid child support for about 7yrs. He said our contract should still be good because he plans on being successful anyway. I also found out that he has borrowed the same amount from 4 different people. He is so far in debt he'll never catch up. However, I learned that a man offered him somewhere around $30,000 but he rejected offer because this man wanted a greater percentage of the company than he was willing to give.

My question is this... can I take him to court and make him accept whatever terms this other man wanted so he could pay me back?

Thank you for you time in advance.

Pam
Click to expand...
A man offered him somewhere around $30,000 but he rejected the offer because the man wanted a greater percentage of the company than he was willing to give? How do you know there's a company? How do you know that the company's prospects will improve because he "plans" on being successful?

It's hard to feel sorry for someone who's so dumb.
 
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