Legal Question in Business Law in Pennsylvania

I need help after being robbed of 40k dollars

I gave a friend 40k dollars to invest in the ''Grape Street Pub'' giving me 8% of the business and 1200.00 a month. A year ago he stopped paying, stating the business was going bankrupt.Meanwhile he purchased new expensive cars, a 250k condo. Tells me he has a new investor and is moving,less than a block away; however, the new investor wants nobody else involved. He closes the first corporation,opens up a new one, naming the new club ''grape street philadelphia'' The club offers the same services (live bands) and is doing wonderfully. He simply changed the suffix and has now offered to pay me back amortized over 10 years! at 380.00 per month. It seems to me that he hid the money from the first club, used it to buy all of his living arrangements and now is trying to write me off. It is a cash business so I'm sure he hid the money. Now he will not return any phone calls, letters or emails. The grape street name is well known to the music industry. It was in business for over 15 years. The same bands play there now and the same patrons go there. He simply changed the suffix. I'm basically begging for some good advice here.

[email protected]


Asked on 10/13/04, 7:01 pm

1 Answer from Attorneys
Mark Johns Mark Johns, Esquire

Re: I need help after being robbed of 40k dollars

The amount of money being talked about seems significant enough to warrant hiring an attorney to get it back (if possible). A lawsuit would allow discovery which would involve his personal financial records. A forensic accountant then could "follow the money" if the transfers were not obvious. I offer free consultations.

Read more
Answered on 10/14/04, 8:18 am


Related Questions & Answers

More Business Law questions and answers in Pennsylvania