Legal Question in Investment Law in California

Investment Fraud

15 persons invested in a California corporation under what seems to be program created by this individual, a lot of false promises and most of them invested close to their life savings, the person said they have a securites 7 license and to date cannot provide any security for this people each investment is close to 100,000.00 and in return this person will pay them 200,000.00 in 10 years or less and this are not sophisticated individuals

I need to get some help for them ASAP

Now it seems this persons is having financial problems this person has an office that does residential loans

any advice on this it will be greatly appreciated

Thank you


Asked on 1/28/06, 3:34 pm

3 Answers from Attorneys
Brad Lee Axelrod Law Offices of Brad Lee Axelrod

Re: Investment Fraud

As well as being an attorney, I have a series 7 securites license. In order to sell any security the series 7 licensee must have his license with a registered securities broker dealer. Moreoever, there are very strict disclosure requirements. I would need more facts, but it seems that a number of state and federal security laws are being violated.

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Answered on 1/29/06, 12:25 am
Nate Bernstein Nate Bernstein & Associates, Attorneys and Counselors at Law

Re: Investment Fraud

This type of scheme is more common than you think- there may be a case for breach contract or fraud, depending on the facts. The money may be legitimately invested or just stolen. You can e-mail us if you desire to hire counsel in Southern California. Thank you.

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Answered on 1/29/06, 12:28 am
H.M. Torrey The Law Offices of H.M. Torrey

Re: Investment Fraud

From the facts given, there definitely appears to be fraud afoot. In such a case, there are actionable legal/equitable remedies, however, they must be acted upon promptly to best preserve the rights at stake and/or to prevent the person at issue from simply "running off" with the monies invested. For a free phone consultation, contact us directly.

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Answered on 1/29/06, 1:58 pm


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