California  |  Investment Law

Legal Question

Asked on: 3/25/13, 12:03 pm

I invested $497 in Goldenarim LTD in the UK in February. The company claimed to have a 2.7% daily compounding rate that would mature at nearly $7000 in 120 working days. I made the investment on 02/06/13. The earnings were at about $496 on 03/18/13, with a total balance of $993.00

On 03/18/13 we learned from our "upline" advisors, (those we had invested under) that communication with Goldenarium had ceased unexpectedly on 03/14/13. They had usually had daily phone calls with the company, and suddenly all communication had stopped. The online site was still accessible on 03/18/13 and showed our current balances. By 03/19/13 though, the site went offline.

My investment was small compared to some, who invested 1000's.

Is there any recourse for the investors, or are we just out our $ and the criminals at Goldenarium get away with stealing all of our money?

1 Answer

Answered on: 3/25/13, 12:21 pm by Charles Perry

While you may well have claims against Goldenarium and its affiliates, you have to evaluate your chance of ever recovering money from them. Given the promised rate of return, it sounds far too good to be true -- which means that it very likely is too good to be true.

If your advisors knew that this was a poor investment, you may have claims against them. Given the size of your claim, it makes no financial sense to pursue this on your own. You may need to pursue this as a class action -- assuming there is money at the end of the day to pay the claims.

Someone will need to invest some money into determining of there is a liable "deep pocket" in this situation. I suggest you speak with an attorney to see what you might be able to do.

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Law Offices of Charles R. Perry 1500 Bayberry Street Hollister, 95023

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