Pennsylvania | Business Law
Legal Question
recovering a stolen investment
I invested with a 'friend' into a bar named ''grape street pub'' I was recieving 8% of the net revenue each month. I found out that my 'friend' used this money for basically anything but the business. Ie: new flooring in his residence and other things. A forensic accountant could easily prove this. Of course he stated the business was going bankrupt and he would not be able to continue giving me my monthly take home. I know for a fact that he was skimming cash and hiding revenue from the IRS. At this time he brought on a new investor who helped my 'friend' open a new bar, now named ''grape street philadelphia'' around the corner from the first place. I have not been able now to get any payback of my initial 50k investment an I have receieved no money for 2years. He has now stopped returning calls or emails. I initially was trying to save our relationship; however, now I see he and his wife both driving expensive cars, owning expensive homes, etc.. He did this to several other people who invested. What kind of legal action would you suggest if any?
Thankyou
Dr. DeGreen
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Read More Answered By: Mark Johns |
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