QLD Not a Accredited / Sophisticated Investor but sold into an investment anyways...

Discussion in 'Commercial Law Forum' started by jarado99, 7 August 2017.

  1. jarado99

    jarado99 Member

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    Hi,

    I was looking into an Oil well investment which was sold to me here in Australia but the investment company was an LLC in Texas (as was the oil wells). When I got the documents it stated all over it I needed to be an accredited investor. I raised the point that I don't think I will be able to take the investment any further however they encouraged me to fill in the questionaire and see how it goes as wouldn't let a little paperwork get in the way of what could be a good opportunity. Anyways I filled in my real status on the questionaire which was way off the requirements for an accredited investor and sent over. They approved me for it and I invested.

    Unfortunately, the investment has gone pearshape. My questions is, do I have any grounds for them selling me something that was only to be for accredited investors?

    Thanks

    J
     
  2. Rob Legat - SBPL

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