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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110501
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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Thank you for reading my question; I and others I know have

Customer Question

Thank you for reading my question; I and others I know have invested money into a private software investment with a local company in Carmel California. The investment took place over six years ago with no physical proof that the organization has any intention to produce a software game at all. We occasionally receive e-mails updating us with progress that is never confirmed.

We feel that this investment is no different then the Bernie Madeoff scheme. Since there is no evidence of a game at all and this organization continues to raise money from many in the area is there a case of fraud? There has been plenty of time and from the behavior of the owner it seems it is a scheme. The money is not the issue here, we want this individual to be stopped from continuing to commit these schemes from many in the area. This individual threatens to bring legal action to you if you show any intent to investigate him and his organization. Do you have any suggestions in which way I can pursue this?
Submitted: 5 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 5 years ago.
If there is no evidence of there being any company or development, then you too have a claim for fraud and there likely is if the other investor was able to pull out with the help from the DA. What you need to do is you need to file a complaint with the Attorney General's consumer protection unit in CA and he cannot sue you for making a valid complaint against the company and they will indeed investigate because he is taking money from people without any proof of a valid purpose.

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