QLD Investment Nightmare! - Can I Get My Money Back?

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Milly

Member
8 September 2014
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1
I stupidly agreed to give an 'investor' $210k last May with an insane return and interest paid monthly etc. I did it all with no contract, yes he sweet talked me. Yes I'm a single mum with 2 boys who fell for it!

I have receipts for all the deposits into his bank account and have only just started contact with him again. He assures me the investment is still active but can't give me any money yet. I received $7000 off him in May last year and that has been it, i was meant to be getting monthly payments.
So i have emails from him talking of the investment so it's obvious he has my money or took my money for investment purposes.

Is there anything I can do, under contract law or practically, to get my money back?
Thank you
 

Rod

Lawyer
LawTap Verified
27 May 2014
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Write to him asap and give him 30 days to pay money back. Keep copy of letter.

If no money after 30 days send a demand letter. Next step after that is court.
 

Milly

Member
8 September 2014
4
0
1
Write to him asap and give him 30 days to pay money back. Keep copy of letter.

If no money after 30 days send a demand letter. Next step after that is court.

Thank you but can i take him to court with no contract???? i've been told i haven't a leg to stand on :-(
 

Milly

Member
8 September 2014
4
0
1
I know this was so dumb so i'm prepared for the backlash :)

Should i try and get more info from him via email to confirm anything??
 

Rod

Lawyer
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27 May 2014
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You have the proof you paid him money. You have proof of at least one dividend/repayment. He needs to prove why he can retain the money, not vice versa.

BTW, your first letter should outline the facts as you know them.
 

Milly

Member
8 September 2014
4
0
1
You have the proof you paid him money. You have proof of at least one dividend/repayment. He needs to prove why he can retain the money, not vice versa.

BTW, your first letter should outline the facts as you know them.

Ok thank you, are you a lawyer?
 

Rod

Lawyer
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27 May 2014
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No.