The following is my
answer to a Quora question: “Someone gave me investment advice,
and told me it was guaranteed 100%. I
lost everything. They are not financial
advisors. Do I have any options for
getting the money back?”
I am still amazed that there are people naive enough
to believe that there are investments that are 100% capital guaranteed. There is no such thing.
In such a case, you may have the option of taking a
civil suit against the other party, but that only works if they have something
that you can gain in compensation. If
they are themselves broke, or financially compromised, you have thrown away
money for a judgement that cannot be enforced beyond making them bankrupt.
If, however, you can prove that there was an element
of fraud, then it becomes a criminal case. Subject to the outcome of the prosecution, you
may them use that judgement to take out a suit against them. Again, it depends if they have assets to be
seized. The publicity of such a case
would likely mean a long line of creditors, from state organs to banks to
victims. As a victim, you are the least
in priority.
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