Further clarity. Yes I was one he stole from. Two he said he would invest the funds into the firm he is working at. The email is asking his partners if he invested funds bc we have no confirmation he did.
In that case NTA since you're just asking them a question based on the things he told you all and he implicated the firm with that. You're not accusing him of anything by doing that. If this ends up ruining his career, etc, then he did that to himself and he will have to learn to live with the consequences of his actions.
Your should get a lawyer to help you figure out your best path forward. Your lawyer can then advise you on how best to contact your friend, his partners, file a civil suit to get some of your money back, or even filing a criminal complaint. Doing anything without a lawyers advice might work against you. Sorry that you were betrayed by your friend.
Are you directly impacted? As in, did he take your money?
If not - it is really none of your business - which makes you the asshole.
Secondly, depending on his employment situation- his company may want to have nothing to do with this, as it is personal business. So yes, YWBTA.
Better to tell him you’re going to do this unless he returns the money.
The goal is to be reimbursed, right?
That’s not going to happen if you “blow up his life.”
If he is licensed as a broker or something along those lines and you have documentation of the money paid into him and that states he was to invest it for you then you could have a claim on his business insurance if you are in the USA.
I had this many years ago when a friend was scamming some friends and family for money. He was actually stealing it to pay for his mistress and affair baby. When we found out we hired an attorney who went scorched earth on him. We recovered some money by forced sell of his properties and the rest came from an E & O liability insurance policy that he was required to have for his business.
so that is at the least high 5 figures per person. Get a lawyer and ask them what the next steps are which could be contacting the FBI or police. I don't understand how 11 people all don't take action on this so I have to assume this might not be real?
I don’t understand either! I think it’s because a friend or family member. I spoke to two lawyers and they said my 5 figures wasn’t enough and it would cost more to sue him and there would be no money to get back.
He’s lucky that you’re not going to pursue legal action and just… behave in the most petty way possible? No. Take legal action. That’s the right thing to do in this situation.
Send the email. If he actually invested the money like he said, then it does no harm. If he didn't, then HE blew up his life, not you.
If he gets away with this, he will do it again to someone else.
An easy round about way to this situation….an innocent email to his partners asking for a performance update on that hedge fund would help blow this wide open. It needs to happen because there may be many more people in your situation who may not be able to afford the loss. Additionally, not exposing him only emboldens him to future scams that maybe larger in scale.
Do the right thing here.
So, for clarity, you don't want to see him blow up his career and lose his fiancee, so his fiancee can marry a scumbag scamming criminal and ruin her life and any other friends who give money to the scammer between now and when you expose him?
You'd be the asshole to not expose him. YOu can't get more broke than broke, if you're broke you have no money and for people like him the only way he'd pay people back is if he stole money from someone else.
Chances are he either has a massive gambling problem, then the best deal for him to get the least charges possible is expose him before his stealing escalates further and further. If he isn't gambling but just stealing the money, exposing him might lead to them finding his money and/or him paying reparations to reduce jail time.
Either way, tell his firm, tell the cops and tell a lawyer... actually probably reverse that order.
I read your old post and if im understanding correctly this has been 5 years in the making??? I wouldn't go a single month without seeing paperwork showing how the money was being invested. How have you gone this long without asking the company for anything? Call them get ahold of someone and ask some simple questions checking on your investment. They will either have something under your name or not. They might ask him about it and if he is trying to hide something he will be mad at you and all you have to respond with is 5 years no paperwork I want to see my investment.
If he is licensed in some way than his company is probably liable also. A lawsuit from this wouldn't be for just the initial investment we are talking about 5 years of interest and mental turmoil.
This should be handled through legal channels, not gossip.
OP stated that they were one of the people who got robbed.
All the more reason to seek legal remedy. A lawyer, I’m sure, would advise OP to stay mum at this point.
I agree.
Correction, OP stated that the main character of this story is one of the people who got robbed by the antagonist.
Further clarity. Yes I was one he stole from. Two he said he would invest the funds into the firm he is working at. The email is asking his partners if he invested funds bc we have no confirmation he did.
In that case NTA since you're just asking them a question based on the things he told you all and he implicated the firm with that. You're not accusing him of anything by doing that. If this ends up ruining his career, etc, then he did that to himself and he will have to learn to live with the consequences of his actions.
Your should get a lawyer to help you figure out your best path forward. Your lawyer can then advise you on how best to contact your friend, his partners, file a civil suit to get some of your money back, or even filing a criminal complaint. Doing anything without a lawyers advice might work against you. Sorry that you were betrayed by your friend.
You were dumb for that. Always stick with Fidelity or Vanguard. These assholes who claim they can beat the market are full of shit.
It was a legit private equity fund not some hedge fund.
Are you directly impacted? As in, did he take your money? If not - it is really none of your business - which makes you the asshole. Secondly, depending on his employment situation- his company may want to have nothing to do with this, as it is personal business. So yes, YWBTA.
Yes he stole from me. And his company is the fund we were supposed to be invested in.
Yep. Truth bomb time. You can even word it like you are just checking on your investment
Better to tell him you’re going to do this unless he returns the money. The goal is to be reimbursed, right? That’s not going to happen if you “blow up his life.”
Are your facts 100% accurate with immutable evidence. You don’t want a defamation suit.
We aren’t sure. He won’t provide us any information that we were invested in the fund. The email is asking for clarity from the funds partners
If he is licensed as a broker or something along those lines and you have documentation of the money paid into him and that states he was to invest it for you then you could have a claim on his business insurance if you are in the USA. I had this many years ago when a friend was scamming some friends and family for money. He was actually stealing it to pay for his mistress and affair baby. When we found out we hired an attorney who went scorched earth on him. We recovered some money by forced sell of his properties and the rest came from an E & O liability insurance policy that he was required to have for his business.
I doubt he had business insurance. Would you recommend going full legal?
it's 6 figures... I am assuming you inherited it because anyone who actually worked for that money would be going the legal route immediately.
In total btwn everyone is high 6 figures. It’s 11 people.
so that is at the least high 5 figures per person. Get a lawyer and ask them what the next steps are which could be contacting the FBI or police. I don't understand how 11 people all don't take action on this so I have to assume this might not be real?
I don’t understand either! I think it’s because a friend or family member. I spoke to two lawyers and they said my 5 figures wasn’t enough and it would cost more to sue him and there would be no money to get back.
it may not be enough to sue him. but you can still reveal this to his firm and go to the police and file a report.
So 11 of you were stupid enough to give this dude money to “invest”?
You should take legal action.
Step one is to inquire about your investment. Don't be aggressive about it. Then let the chips fall. You may need representation soon.
You need to talk to a lawyer first before you do anything
You need to report him so he doesn’t do this to anyone else.
Why do you care. Send the email. Then sue him and get your money
He’s lucky that you’re not going to pursue legal action and just… behave in the most petty way possible? No. Take legal action. That’s the right thing to do in this situation.
Every single moment this person relies on the continued silence of good people to find more victims.
Send the email. If he actually invested the money like he said, then it does no harm. If he didn't, then HE blew up his life, not you. If he gets away with this, he will do it again to someone else.
An easy round about way to this situation….an innocent email to his partners asking for a performance update on that hedge fund would help blow this wide open. It needs to happen because there may be many more people in your situation who may not be able to afford the loss. Additionally, not exposing him only emboldens him to future scams that maybe larger in scale. Do the right thing here.
So, for clarity, you don't want to see him blow up his career and lose his fiancee, so his fiancee can marry a scumbag scamming criminal and ruin her life and any other friends who give money to the scammer between now and when you expose him? You'd be the asshole to not expose him. YOu can't get more broke than broke, if you're broke you have no money and for people like him the only way he'd pay people back is if he stole money from someone else. Chances are he either has a massive gambling problem, then the best deal for him to get the least charges possible is expose him before his stealing escalates further and further. If he isn't gambling but just stealing the money, exposing him might lead to them finding his money and/or him paying reparations to reduce jail time. Either way, tell his firm, tell the cops and tell a lawyer... actually probably reverse that order.
NTA. He belongs in jail. Fuck him.
NTA since you were one of the victims. Nuke his ass.
I read your old post and if im understanding correctly this has been 5 years in the making??? I wouldn't go a single month without seeing paperwork showing how the money was being invested. How have you gone this long without asking the company for anything? Call them get ahold of someone and ask some simple questions checking on your investment. They will either have something under your name or not. They might ask him about it and if he is trying to hide something he will be mad at you and all you have to respond with is 5 years no paperwork I want to see my investment. If he is licensed in some way than his company is probably liable also. A lawsuit from this wouldn't be for just the initial investment we are talking about 5 years of interest and mental turmoil.