What canI do if I have been scammed?
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What canI do if I have been scammed?
I recently invested some money with the owner of a start-up corporation. I believe this individual has been using the money for personal needs (mortgage, car payment, etc), and possibly to fund other corporations which they are starting (not related to me or my investment). What should I do to protect myself in this situation?
Asked on September 20, 2010 under Business Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Do you have any type of agreement as an investor? Any business plan that you were given? Any agreement for use of the funds? A note? If you do, take those documents to an attorney and have the attorney - or you - contact your State Attorney General's Office to help you with reporting the scheme and see where they can refer you. Depending on the type of business that you invested in there could be licensing issues (meaning that they need or have a license to do business) so you can report them to what ever agency licenses them as well. But if he is taking a "salary" as an officer of the corporation and paying his personal needs with the salary - legitimately - then you may not have as big a case as you think. Investigate first. Good luck.
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