What is the name of your state? Kentucky
What I have in mind is a private placement exchange. All funding reqs would be capped at $2,000,000.00. Where small investors would be able to not only limit losses, but also diversify among different projects/loans, and or buy, sell, or trade issues with each other. And borrowers would not need to go through normal banking channels. With my company being the transfer point for the funds (think PayPal, or Storm Pay). Essentially, people would be making direct loans to requestors. All persons involved would have to be members of this proposed exchange, in order to do anything. My questions are. 1. What would my legal responsibilities be? 2.What would my legal liabilities be? 3.Short of running people/companies through the usual bank approval wringer, what sort of due diligence could I use to prevent fraudsters from scamming investor members?
What I have in mind is a private placement exchange. All funding reqs would be capped at $2,000,000.00. Where small investors would be able to not only limit losses, but also diversify among different projects/loans, and or buy, sell, or trade issues with each other. And borrowers would not need to go through normal banking channels. With my company being the transfer point for the funds (think PayPal, or Storm Pay). Essentially, people would be making direct loans to requestors. All persons involved would have to be members of this proposed exchange, in order to do anything. My questions are. 1. What would my legal responsibilities be? 2.What would my legal liabilities be? 3.Short of running people/companies through the usual bank approval wringer, what sort of due diligence could I use to prevent fraudsters from scamming investor members?
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