A Companies Foul Investing Practice

[cherellep]

What is the name of your state (only U.S. law)? NY but company based in GA and CA

I need advice on how to proceed with this company inwhich I invested 15K in during the month of April 2008. The CEO sent me a contract in how the payment would be returned and the time frame of the investment. The expiration date appeared and he has not paid me back as of yet. The terms were for three months with a 3% return, so that's $1,500 on every $5k that was given, payable July 28, 2008. I have tried by all means working out something with them to get my money back but the CEO doesn't communicate with me well anylonger. Also responds back to me on his time. Has changed phone number and his company address as well. So I really don't know how to get intouch with him anylonger. I do have a few ways to get with him and that is through other members of his company. I really would like to get money back and it has now been almost 4 months that has past since they were supposed to be scheduled to return my funds that were given. I am feed up with this no communication. If someone knows how I can go about getting my funds back please contact me back.

[email protected]What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

 

[seniorjudge]

Sue the bad people in their home state OR if they are doing business in your state, sue them there.

You need a lawyer.

 

[tranquility]

Did you invest the money, or did you loan it to them? In the former, you take risk, in the later I believe the interest rate may be usury.

 

[cherellep]

It was a loan for 90 days which has now become 210 days. I have emails , phone records, as well as the original contract.

 

[tranquility]

See an attorney. You may have violated the law as your numbers indicate 30% in three months and not 3%. That is 120% a year. You may be subject to civil and criminal penalties for usury. The attorney will not be to help you collect, but to help keep you out of jail and/or from being on the losing end of a lawsuit.

Are you sure it wasn't an "investment"?

 

[cherellep]

I'm not sure if it was an investment or a loan. He promised me stock within his company and I never received not one cert. This was the terms that he proposed to me. I didn't set the rates.

 

[tranquility]

Excellent. An investment you sue. A loan he sues. Still, because of the confusion, I'd see an attorney.

 

[Zigner]

Please make sure to take your WRITTEN contract with you to the attorney. You have no case if you don't have a WRITTEN contract.