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dkennedy
dkennedy, Attorney
Category: Business Law
Satisfied Customers: 6009
Experience:  JD degree, business owner
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What is the my legal stand for being involved in a Private

Customer Question

What is the my legal stand for being involved in a Private Investment Retirement Club that does not operate within the jurisdiction of the US. Are there any states in the US that would have statutes that would prohibit Ones involvement in a private investment retirement Club.   Specifically Iowa is of interest since that is my current residence.
Submitted: 8 years ago.
Category: Business Law
Expert:  N Cal Attorney replied 8 years ago.
If the Club is soliciting investors in the USA, it is subject to US law.

Private placement of securities is not prohibited but it is limited to qualified investors.
Do you have a more specific question?
Customer: replied 8 years ago.
You don't understand my question Please just forget it,
Expert:  N Cal Attorney replied 8 years ago.
I don't think you understand my answer. If the investment operator solicits investors in Iowa or anywhere else in the US, it is subject to the federal securities laws. If the operator is telling you anything different, he is comitting fraud. I am trying to look out for your interests, but I cannot stop you from throwing money into an unregistered investment scheme.
Customer: replied 8 years ago.
I request someone else for an answer.

This person just wants to argue.
Expert:  dkennedy replied 8 years ago.

HelloCustomer

 

I have been asked to assist you with this question, since I am licensed in the State of Iowa. There are no laws in the State of Iowa which would prevent an Iowa citizen from investing outside the United States. Both Iowa and US law would require that you would abide by any income tax requirements if you made money with these investments, of course.

dkennedy, Attorney
Category: Business Law
Satisfied Customers: 6009
Experience: JD degree, business owner
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