Investor Says He Is Not Liable after Selling His Company

srcandas

maximumme wrote: »

Thanks atush, non taken. I sometimes wonder that myself, quite often actually. I have known the guy for a long long time, and I had no reason to mistrust him. I had witnessed his previous successful investments. He promised to wipe out all of my debts, and more. Unfortunately he got very greedy. You think you know someone........

Just wanted to say Good Luck and hope all comes good. This thread that you started will hopefully help many. Yup small consolation but :beer:

mike88

I am not saying this to be offensive as it probably doesn't apply in this case but sometimes it is advantageous to offload savings so that there is entitlement to Benefits. Whatever the reason in this case this loan/investment was extremely risky and should be a warning to those thinking of handing money over to "friends".

innovate

mike88 wrote: »

..... sometimes it is advantageous to offload savings so that there is entitlement to Benefits.

Google "deprivation of assets"

mike88

innovate wrote: »

Google "deprivation of assets"

Exactly my point. It is advantageous as long as you are not found out. But in reality not a very sensible thing to do.

maximumme

mike88 wrote: »

I am not saying this to be offensive as it probably doesn't apply in this case but sometimes it is advantageous to offload savings so that there is entitlement to Benefits. Whatever the reason in this case this loan/investment was extremely risky and should be a warning to those thinking of handing money over to "friends".

The money I "invested" was the result of me remortgaging. The reason I remortgaged in the first place was to pay off some of my debts, but I was persuaded to part with it before I could do so.

dealer_wins

If the "conman" you gave your money to has assets (Ie the properties) I think you could have a reasonable chance to pursue him through the courts.

I have a gut feeling you wont see your money again though.

Option 2 is spend another few hundred on a few blokes who tend to carry baseball bats with them at all times, and see if they can help persuade your ex friend to pay back what he stole.

innovate

dealer_wins wrote: »

Option 2 is spend another few hundred on a few blokes who tend to carry baseball bats with them at all times, and see if they can help persuade your ex friend to pay back what he stole.

:eek:

Wouldn't be long before they come back demanding a bit more than just a few hundred, from the OP that time.

DCFC79

Wish you luck in getting it back OP.

maximumme

Thanks everyone. What is not clear to me, how can he sell the limited company, the company is dissolved, but he still owns, rents out and is making money from the properties I invested in? Is this legal?

xylophone

Thanks everyone. What is not clear to me, how can he sell the limited company, the company is dissolved, but he still owns, rents out and is making money from the properties I invested in? Is this legal?

But did the company ever own the properties?