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Richard, Attorney
Category: Business Law
Satisfied Customers: 55715
Experience:  32 years of experience practicing law and a businessman.
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I lended money for 90 days to a friend of 12yrs and he gave

Resolved Question:

I lended money for 90 days to a friend of 12yrs and he gave me share holder agreemnt and i signed. he said with this money I will get investores in to the company than give you the money back plus double your money in 90 days well 1yr goes by nothing !
I have attemted nicely but he is not doing anything I need to find out the following
I found out someone else has a lawsuite against him with fraud...

What are the court requirments to
1. Hold his money in the bank until is finalized so he dosn't move it(I know his account number I deposited in twice and his financial adviser)
2. Take his cars or court to hold his cars untill finalized (he has expensive cars, but no home his house is for short sale and is on his mom's name.)
Submitted: 6 years ago.
Category: Business Law
Expert:  Richard replied 6 years ago.

Good evening. Before you can attach any of his assets, you must first file a claim against him for the default on the note. When you get your judgment, if he doesn't pay you, you can then attach his bank accounts and other assets and/or garnish any wages he has to collect your judgment. I will tell you are going to want to simply sue for your money back...if you sue for your money plus the double your money he promised you in 90 days, you are going to run afoul of usury laws and get yourself into trouble.



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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.

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Customer: replied 6 years ago.
what if their is act of fraud? and he has mutliple companies in different states example his cars are regestered in an state that dosn't have taxe's but the cars are parked in california. His company is in Ca but regestered in another state. He could easily hide things and disolve things! is their anything I could file with to be able to stop him from hiding the stuff!?