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Asad Rahman
Asad Rahman, Lawyer
Category: Legal
Satisfied Customers: 2174
Experience:  Practicing Attorney with 10 years experience
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We have had a CEO of his company invest a substantial amount

Customer Question

We have had a CEO of his company invest a substantial amount of our hard earned money & also through a settlement. This is the Loan agreement when we first did buisness. It reads: Loan Agreement
On this 29th day of July, 2011. This Loan Agreement is by and between Mr.Dominic or Mrs. Charolette DeBello hereinafter referred to as Bo%ower. It is Borrowers intent is to use said loan/s to aquire,leverage,maintain,improve,sell and/or convey single family residences within a fifty (50) mile radius of*****Suite 200,Ontario,CA 91764
Terms and Conditions:
Whereas, Lender has agreed to loan, to the borrower, the sum of:
On this 29 day of July, 2011.Lender has agreed to loan, to Borrower, the above loan amount for a period not to exceed 180 days from the above date. Borrower agrees to pay, to the Lender, an annual percentage rate of EIGHT (8%) for a six(6) month period. Total amount to be paid at the end of 180 days, to the Lender, by borrower is:
(16,200.00). Said payment to be paid in the form of a cashier's check made payable to the Lender. The due date of the payment shall be on the 29th day of JAN 2012.
Early Payment:
In the event Borrower retires said laoan prior to the due date above, the entire amount of the loan, along with projected interest, shall be paid by the Borrower to the Lender. Said return on the loan shall not be prorated.
Lender agrees and fully realizes this is not an investment or a partnership.Lender is not liable, and is held harmless, from any/all activity relative to the above actions of the Borrower.
This company has approximately $120,000.00 dollars of our money. We recently found out that Mr. Robert Gomez has passed away on April 12, 2016. These funds came from our back pay in our Social Security and a settlement that was sent directly to him because I had that class 1 recall of kugel bard mesh stuck to my pelvic bone and it took me 8 yrs to find a surgeon to remove it. I had the surgery and unfortunately still need more surgerys, but I never say any of the moneys sent to him from my settlement which was approximately $30,000.00. We have tried contacting the wife and no response. We need to find out how we can get our money back, as this was our life savings. Please advise as to how to get our funds. Thank you, ***** ***** Mr. DeBello
Submitted: 1 year ago.
Category: Legal
Expert:  Asad Rahman replied 1 year ago.
I am sorry to hear this. I would suggest at this point, a lawsuit is your only way to get those funds reimbursed to all of you. The claims you would assert are fraud, breach of contract, civil theft, misappropriation of funds. I would reach out to an experienced business litigation attorney about filing a lawsuit. All of you that were affected by this should collectively file and share any legal expenses.