Legal Question in Investment Law in Minnesota
I found out today that a friend who claimed to be a currency trader lost the $50,000 we gave him to invest. The money was supposed to be in our own separate account invested in currency. We even received e-mail "Satements" a couple times all claiming that our account had been making money but only when we insisted on seeing a statement. He now says that he made some "bad choices" and our money is all gone. The statements we got were made up.
The fact is that he recently returned from a 2 week vacation in Australia and is associated with some people who are being investigated by the FBI for fraudulent investing and stealing millions of their investors money. Though our former "Friend" has not yet been charged or accused by authorities with a crime, we feel like we've been taken. What can we do? We have the copies of the cashiers checks we gave him to deposit and the fraudlent statements. Can we file a lien against his house in hopes of getting something back? Do we have any other options?
1 Answer from Attorneys
Your best option is report the matter to police. If the acts were criminal, he will be prosecuted and convicted and, to the degree possible, required to pay restitution. If hhis assets were acquired with stolen proceeds, those assdets can be seized, placed into receivership and used to satisfy the victims.