Consumer Protection Law

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A number of years ago, I was approached by a friend about…

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HiA number of years ago...
HiA number of years ago, I was approached by a friend about investing in a company by purchasing stock. I agreed to do so and gave him a check for $15,000. He in return gave me a certificate of some sort, which stated that the company owed me some stock, he said that the stock would be issued in a few weeks.
It’s been years now, and I have asked him many times about giving me the stock and I have received nothing but excuses.
I have therefor come to the point that the whole thing was a scam.What can I do to report this and recoup my investment?
Submitted: 26 days ago.Category: Consumer Protection Law
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Answered in 7 minutes by:
3/28/2018
Consumer Protection Lawyer: Law Educator, Esq., Lawyer replied 25 days ago
Law Educator, Esq.
Category: Consumer Protection Law
Satisfied Customers: 123,257
Experience: Attorney experienced in commercial litigation.
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Investment is always a risk borne by the investor. So the only way you would be entitled to return of your money is if the investment stayed the same or increased in value. Of course, without a written share agreement, you could also claim it was a loan and seek to enforce it that way. Unfortunately, there is nobody to "report" this to, it is something you have to actually sue him or his company over to seek to recover the money and if you prove he took it from you by fraud, you can seek triple what he took, plus your attorney's fees.

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Customer reply replied 25 days ago
But this was an investment fraud. Surely there must be a government agency that handles these type of cases?
Customer reply replied 25 days ago
I have not received the stock that I purchased.
Consumer Protection Lawyer: Law Educator, Esq., Lawyer replied 25 days ago

Thank you for your reply.

If it was a true investment fraud, then the Securities and Exchange Commission, FINRA and FinCEN would be the government agencies that would investigate, together with your Attorney General.

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Customer reply replied 25 days ago
By your attorney general. You mean the state of NJ Attorney General or what?
Consumer Protection Lawyer: Law Educator, Esq., Lawyer replied 25 days ago

Thank you for your reply.

It would be the Attorney General in the state where the company is located, so if that is NJ, then yes, the NJ Attorney General.

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Category: Consumer Protection Law
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