i am going through really very terrible situation currently.
i am an engg graduate, married started my career with working some of the engineering companies, later on i tried to shift my focus to stock market.
Where i took very big amount ($12000) from different people for investment.
broker told me that i will be getting 20 % share in all the brokerage (even he filled all the necessary forms ) but i forgot to collect the receipt of the form submission.
Till this point i have given him almost $5000 business, so he owe me $ 1000.
but he is now denying and saying me that you do not have any proof. now total value of the portfolio is only $ 3000. all the people are asking money to me only. so it is really a precarious situation for me
will you plz guide me how i can come out of this situation. :?: :?:
not real sure, I have not seen anything like this discussed here, you may want to wait and see if anyone else comes on and may guide you to where to go for help.
It is true that you have encouraged the people to invest but you have not come to any agreement with the investors directly. The investors had agreement with the investment company and so the investment company is responsible for the debt and not you. All that you lose is your brokerage. However, if you have taken money from the investors and have invested with the investment company under your name, then you are responsible to pay off the debt.