What canI do if I was scammed in an investment?

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What canI do if I was scammed in an investment?

I paid a guy $2500 for what I thought was going to get invested in stock. However, the money didn’t get invested. We have a guarantee in a document.

Asked on March 28, 2011 under Business Law, Utah

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Investments usually are not guaranteed, kind of like of playing stocks, you win some, you lose some. You need to review your agreement and check in with your state's securities department or the U.S. Securities and Exchange Commission to find out if this contract was or should be regulated by them and if you need to file a complaint through those agencies. Next, if you can, consider speaking to an attorney who can then try to determine if your agreement and the guarantee provision were legally binding and enforceable. If so, then a lawsuit may be your route if those two agencies do not have sole authority to obtain reimbursement for you.


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