words can not express how I feel right now. what took me over two years to save up is now completely GONE and nothing I can do about it. Plus, $2k in lawyer fees for nothing. Found out this morning that my chance of ever seeing a dime is slim to nill
So about four years ago a close friend introduced me to a good friend of his. Someone he has known since childhood and has been in the finance and accounting world for years. A couple of years before that, he has been independently managing clients financing and investments, including a number of pro basketball players.
Prior I had my money in CD's with BofA, which was getting about 5%ish a year. I was asking him about what he did and he told me that he can get about 8-10% return a year guaranteed or 20% in a high risk. I took him up on the offer for the 8-10% guaranteed and gave him $25k. He told me it was all stocks, forex, etc., seemed 100% legit and he showed me some proof of what he did.
Around February '09 I heard a rumor that him and his partner got car repo'd that they were lending to someone else (another friend). My friend said he has been sending them the money payments but the repo company said they haven't gotten a payment in months. This through up a couple red flags and I called the guy I had the investments with and said I needed to cash out ASAP.
He told me he would get me the money within about 3 weeks, needed to cash out some stocks but it would be done. Weeks went by, no response. Kept calling and calling and kept getting excuses. Were now into April and I find out from the friend who introduced me that he is involved in a ponzi scheme. He found out because the guy told his wife who told my friend so he could try and get his money out.
We both have been trying, zero luck. I contacted the police, there is nothing they can do (seriously???) He is being investigated by the FBI, but we are told it would take years before we would see any money, and that is if we are extremely lucky
So now I'm raging about this. $25k is a HUGE amount to me, just about everything I had. I was planning to use that for a wedding and down payment for a condo, but now I'm fucked and almost back at 0.
Fucked up world this is. Someone can steal $25 THOUSAND fucking dollars (just from me!) and theres a good chance he will get away scott free. If I were to go after him, I would be in jail.
Yes, I know I should of had a physical signed agreement but I didnt. I wired the money to him and the bank said "sorry, nothing we can do after 1 year." I trusted both my friend and his friend and now paying for giving someone my trust. last time that ever happens
Karma, you better have something really fucking good planned for me
