Good evening. You have recourse against this guy on a multiple number of levels...i) first, he is guilty of securities fraud due to misrepresenting the investment and not fully disclosing all the risk factors to you...you should contact the Securities Exchange Commission regarding this; ii) you should file a civil suit against him for fraud, usurpation of corporate opportunity, and breach of fiduciary duty...asking for not only actual damages, but also punitive damages; and iii) you should contact the district attorney to pursue criminal charges against him for fraud, theft, and related criminal charges.
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
The statute of limitations on fraud in Ky. is 5 years, but you have ongoing fraud here. The statute of limitations on written contracts is 15 years.
I would pursue both Stan and Bill...get them to point fingers at each other.
The first thing you would do which you have already done and been rebuffed is demand all information, financial and otherwise, involving your investment and the company from its inception. Their failure to deliver this information gives rise to your causes of action.
It would be 50/50 on whether an attorney would take this on a contingent fee basis.
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