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Hi - my name is ***** ***** I'll be glad to assist.
Do you have anything in writing that evidences the representation regarding the profit?
You can sue for the person for negligent or intentional misrepresentation and also for detrimental reliance given that he made you these promises and caused you to rely on them.....and provide money to the person based on these representations.
You should consult a lawyer in your area and have him/her issue a demand letter to this person demanding damages/reimbursement if the event does fail.
You can claim that the person took advantage and made material misrepresentations to you in order to induce you to participate in the scheme....to your detriment.
It would likely be a good idea to seek a lawyer to review any agreement and documentation you have so you can handle this matter as best as possible going into the event.
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