I have invested money in business in the year 2000. My principal amount invested is $100000.00
The guy run the business and used to pay monthly profit $1200.00. In the year 2008 his business went down stating there was loss so he used to Pay monthly $600. This year 2015 he completely stopped paying anything,refusing paying my principal amount but he is still doing good business.
I want to file a case against him to recover my principal amount.
Please advise. Thank you
If you "invested" a million dollars without any legal advice or proper contract, you were extremely foolish.
If you have a note, then you can file suit. But if this violated blie sky laws, it may not be do simple.
You should contact a local attorney, and discuss the situation. It is unclear how you invested in the company, and depending on that answer, you have a variety of solutions available. This is a much bigger issue than just asking a question online, this particular issue needs to be addressed with a thorough background discussion. There are plenty of rated attorneys here that you can choose from, that I am sure would like to work with you on your situation. Good luck!
I tend to disagree w/ a colleague here... Firstly, it looks like you've invested $100,000. If this is the case, as you've written, and if the payment information you've posted is correct, then it looks to me over the last (14) years as if you've received $151,200. I don't see anywhere in your posted question that indicates you don't have any documents, (hopefully you do), but all is not lost if this is the case. It will be much more of an uphill battle. Blue Sky laws will likely have zero effect here. A blue sky law regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms. (Burden is not on the investor)
You may have a several causes of action, including as a creditor of the existing business, or a claim to enforce a valid contract. Good luck on this.
The answer would depend on what documents you signed and what representations were made to you.
A full consultation would be necessary to properly advise you.
