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If I receive money 90 % cash from different investors and I…

If I receive money 90...
If I receive money 90 % cash from different investors and I promise verbally 7% return to them a year ago
But it went bad , because I have not enough profit to cover the interest and I’m really broke and o can prove it
Can they put fraud charges agains me ?
They are telling me they will put this charges against me
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Answered in 2 hours by:
3/18/2018
DamienJD
DamienJD, Attorney
Category: Business Law
Satisfied Customers: 5,125
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Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

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It would be more of a breach of contract claim against you if you were loaned money and were to pay interest but did not pay the interest and return the principal. Or it would be a claim of promissory estoppel (i.e., you promised to pay but did not pay).

It would only be a fraud claim if you knew you would never pay them back.

If you have further questions or you need further assistance, just let me know.

If not, please remember to rate my answer between 3 to 5 stars without any additional costs to you. That is how I get credit for answering your question. Best regards.

DamienJD
DamienJD, Attorney
Category: Business Law
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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