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How do I enforce an Investment Contract with an Austrialian Citizen. (In US)

Skagii

Junior Member
#1
From Oregon:

I made an investment contract with an individual from Australia and everything was going great, we both had access to the trading account; however, the account "glitched" and the trade that never hit a stop loss (cross checked many servers and brokers) was stopped out at a negative equity loss. The individual did guarantee my initial investment and now has been pulling me along for 3 months about getting the money back to me. So i know I did a dumb thing. Just curious if the contract we created and signed has any recourse or weight to it.
Essentially the contract was B gives A 5k to put into a brokerage account and A guarantees personally the 5k that was put into that account.

Thanks,

Skagii
 


LdiJ

Senior Member
#2
From Oregon:

I made an investment contract with an individual from Australia and everything was going great, we both had access to the trading account; however, the account "glitched" and the trade that never hit a stop loss (cross checked many servers and brokers) was stopped out at a negative equity loss. The individual did guarantee my initial investment and now has been pulling me along for 3 months about getting the money back to me. So i know I did a dumb thing. Just curious if the contract we created and signed has any recourse or weight to it.
Essentially the contract was B gives A 5k to put into a brokerage account and A guarantees personally the 5k that was put into that account.

Thanks,

Skagii
You have recourse under the contract, but unfortunately the cost of litigation plus the costs of trying to collect from someone in Australia, if you get a judgment, would likely greatly outweigh anything that you could collect.