Legal Question in Business Law in Texas

Re: Unreturned funds of funding for 2nd trust Deed loan

Sorry to hear about your bad deal. I think you are going to have to sue both the California and Texas parties, and quickly, before you loose your rights altogether. You will need both a California and a Texas lawyer; I am guessing, however, that there is going to be a lot of finger pointing back and forth between the California and Texas folks, so this could be a difficult case. Best bet would be to hire your lawyers on an hourly basis, but given the magnitude of the loss it might be possible to find someone who would take these cases on a contingency basis (that is, they take their fees out of any recovery.) I don't know about California, but collecting a judgment in Texas can be quite diffucult.

Re: Unreturned funds of funding for 2nd trust Deed loan

You left out the part about how you came to participate in this transaction to begin with. You are certainly a very trusting person to wire all that money without consulting an attorney beforehand or requiring collateral such as real estate. If you want me to look at the "contract," I will. But my best guess is that you were scammed and you won't get any of your money back. Certainly no lawyer would take this case "pro bono" or on a contingent fee.

Re: Unreturned funds of funding for 2nd trust Deed loan

You can sue the broker in California, and also name all the other players. There will be cross-complaints and a lot of court appearances and discovery in this. You will need proof of what happened, the contracts, correspondence, etc. And, you better hope this wasn't just a scam with people that will disappear. The longer you wait, the worse this gets. Contact me if interested in doing this right.

Re: Unreturned funds of funding for 2nd trust Deed loan

I'm pretty sure this is a fraudulent scheme, and you are a victim. In some Ponzi-type frauds, a victim who complains loudly and often enough will be repaid in order to silence him and keep the scam alive so the crooks can go on fleecing others. You could try this.

From the facts you've given, these people are very lawsuit-adverse; they won't talk to you because you've threatened suit. That sounds like an admission of guilt.

You should consider reporting this matter to the white-collar crimes unit of your local police or sheriff's department and/or the district attorney's office. Now there's a lawyer who is paid by the taxpayers to go to work for folks in your position! You might even get some restitution if they nail these guys.

Re: Unreturned funds of funding for 2nd trust Deed loan

If you are interested in hiring lawyers on a contingency fee basis (which means you don't pay unless you collect), feel free to give us call. We handle many case like yours.