Legal Question in Business Law in Arizona

is this legal

Is this legal? I am looking for an investor for my business. An investor contacted my on line through a banks website that I have my business plan posted with. He is from Nigeria Africa. here is the question. Is it against the law or are we doing anything wrong by getting funded from him? One more question he needs me to use his attorney there to draw up the paper work. It will cost me $3,000 dollars. Is this a normally price? I am going to have an attorney look over everything to make sure it is all legal. I just need to know first before I go any father if this is okay to do.


Asked on 9/12/03, 3:30 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: is this legal

You are well advised to go most cautiously in dealing online with anyone from Nigeria. There are multiple scams each day originating in that country, and many people have lost thousands of dollars. Be sure you have checked out your source thoroughly before you do any business, and particularly if you are required to provide any bank account numbers or other financial information. If you have a corporation, then you issue stock certificates to evidence an investment. Paying someone $3000 to do that is foolish. Always get a at least second opinion when determining whether or not a professional quote is reasonable. Be very suspicious if you are asked for your social security number, and DO NOT provide it to anyone you don't know as well as you know your best friend.

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Answered on 9/12/03, 4:13 pm


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