Legal Question in Credit and Debt Law in Texas

First - what if he really does not have any money to pay you? You can file suit against him on the loan and get a judgment. Then you can proceed to garnish his bank account(s) or put liens on his property. But, after you've gone through all of that, what happens if he still have no money to pay you? Well, you've made his life miserable and have made it that much more difficult for him to earn the money to pay you!

Do you have this loan agreement on paper? Has he made any payments on the loan since he obtained it from you? Did you have a specific provision in your agreement that the money was only to be used for a specific purpose?

No, its not criminal fraud and there is no criminal action involved here. It is a civil matter - most likely breach of contract. How long has it been since the loan was made? How soon was he to repay it? Was it to be repaid in payments or in a lump sum? What did each of you think the terms of the agreement were?

I cannot advise you appropriately when so much information is missing.