I feel like i've been cheated by a guy i trusted and angel invested in.
He was looking to build a crypto exchange with a bunch of other coders
Over the past few months, things havent been going well so i started digging deeper. Man i found a shitload of red flags, and that he has lied to me on several counts and casually brushed aside important questions.
>He has lied to me about finances and he has not paid his employees what he claims to have paid them >My investment was for him and the team to start working on the project, turns out it was only him that is working on it. >I suspect he has been using the business as an excuse to travel and spend money >He had previous financial difficulties with his last startup >He ignores me when i ask about his teammates and if they are still working on the project >He now tells me he is working part time on something else >He is unable to secure more investment (no shit)
TLDR: He has not been transparent with me and i believe he is hiding the fact that everything is going downhill.
I have asked for the finances but im not sure he will give it to me. I've signed a equity agreement with him but i believe he has not even registered a company, does this mean that he will be liable himself since there is no legal entity protecting him?
Is this considered to be a sale of securities?
Now i am planning to confront him soon with the evidence and threaten him with investor fraud.
He is a US citizen while i am a citizen of an asian country. Do you think that will impede the case?
If you have any idea of what laws could help me please let me know.
Feel free to laugh at me, im a fucking idiot and i know it, but i dont want to let him get away with it.
Want to add that i invested in him via ETH. I have the transaction IDs as proofs in emails to him and he has acknowledge receipt of the funds.
The equity agreement we signed was in USD, but we agreed that i can pay him in ETH.
Samuel Turner
Put everything you have left into LINK. Forget about this guy
Wyatt Wood
you could try going to his home with a gun
Wyatt Cruz
pretty much this how much did you invest?
Ryder Peterson
Yup you got conned. How much did you give him? Sounds like you could go to court but idk if it’s worth it.
Evan Kelly
U done goofed
Joseph Cruz
>Trusting an americuck
Aiden Hall
Post his name and address. We'll take care of the rest
Caleb Reed
Around mid 5 digits
Luke Sanders
Hey man I'm totally looking to build a new awesome Crypto Project. Can you send me some ether to get me started? Totally not going to scam you lol thanks bro
John Parker
Are you a guy that worked as publicist or something like that?
Josiah Jones
Nope. I'm just a guy trying to make a living in crypto desu.
Saw an opportunity and I invested. Admittedly I'm a fucking idiot who didn't do DD.
But still it's not right for him to get away scot free.
However, it's not absolute, in that no paperwork can save an entrepreneur from Rule 10b-5, which imposes civil and criminal penalties on any person found to have knowingly worked a fraud in connection with the sale of securities. I find that most people don't equate their natural inclination to present selective facts in the best light possible with "fraud", but the SEC takes a different view, in that fraud includes making any untrue statement of a material fact or omitting to state a material fact in connection with the sale of securities. A "material fact" is anything that a reasonable securityholder would find important in deciding whether to purchase a security. That's not a very high bar, and a lot depends on how a prosecutor or a jury would interpret the actual evidence.
Nathan Gomez
What's his first name
Dylan Morris
I can't delvulge anything here man. Don't want him to get smart
Who knows he might visit biz regularly. Why you asking?
Liam Murphy
This is who I was thinking about warosu.org/biz/thread/S9712633 I don't know about law, a lawyer in your country will know better answers so maybe try to meet one and see if he wants to talk to you and how much would he charge you to move things forward. Maybe the embassy. Extradition sounds like a really long shot, but your countries can talk, I doubt they'll be light on fraud. The problem is you may have done something wrong according to the law you didn't know existed and they're not going to look the other way either. So that's why I think you should first try to talk to a lawyer.
Kayden Clark
I want to win this properly and legally.
I want to make sure that he does not con anybody else.
Ayden Allen
Smash his kneecaps
Wyatt Richardson
I think putting his name out hurts you more than helps. You'll have time to think about it if it becomes the correct thing to do.
Jeremiah Wright
Thanks for the link. Don't think it's the same guy.
Agreed putting his name out should be the last resort. It would look bad for both of us.
I will try and consult a lawyer to see what would be the best approach.
Henry Cruz
Any more lawyers here in biz?
Jace Davis
I know a guy personally that I did business with (I didn't get scammed myself, but a lot of people close to me did). What you wrote fits him to a "T", so I was just trying to see if it was the same guy. SP?
Jackson Kelly
Funny , I got a message for a very similar thing yesterday. Told them to get fucked.
Tyler Evans
Nah different person. This guy literally has no more investors other than me. Nobody else is as dumb as to invest in him desu
Gavin Jones
Some user will probably offer better advice than i can afford, but how'd you meet him?
Jason Ross
is it jo?
Levi Gonzalez
You do know there are hundreds of exchanges coming up right? How likely is OP's issue the same as your guess?
Brayden Edwards
ehh not impossible still IS IT JO OP?
Noah Parker
if i told you that was JO Would you be happy?
Impossibuur?
Nicholas Rodriguez
i would kms :(
Gabriel Brooks
Who are you? Random Anons LARPing....
My situation here is serious
Julian Rogers
Nice thread hijacking and LARPing boys
Blake Gray
This is 100.00% securities fraud. Could not be more cut and dry.
Andrew Johnson
Yikes, For 5k US me and my biker friends can pay him a visit. Were southern Canada and will ride to wherever this fuck is. 5k will cover 5 men including myself to pay him a visit :) You just let me know what you'd like for us to do. Beat the living hell out of him, kill or just threaten and destroy property.
