Quote:
Originally posted by wcc
We initially invested two years ago. It was a 6month investment. At the end of 6months they gave us the option to cash out or continue at the same rate of return for another 6months. We decided to keep it in there. After the second term of 6months ended we decided to cash out. Then all the excuses started....
I learned my lesson, so what are the steps I should take now? Do I even have any recourse?
|
How were they supposed to generate the "return" they said you could make in 6 months? This still sounds like a scam, not any type of oil lease deals -- most legitimate investment in businesses will not be for just 6 month periods. It sure sounds like some sort of Ponzi scheme.
As for the next step, I'd be talking to your attorney. Perhaps a different attorney than the one who "invested" in this too. (This assumes your losses are significant enough to justify the cost of an attorney.) There may be nothing criminal that they've done, but things sure smell fishy from what you've related here.
Edit: Additional thought: There are two ways you can play it if your attorney tells you they have violated laws. You can either go to the authorities, in which case you'll probably get nothing back, or go to them and tell them that you've spoken with an attorney and he thinks they've violated such-and-such laws and that you're considering going to the authorities with that information if you don't get your money back. There is a slight chance you might scare them into giving you back your money.