Investors Think It’s A Scam, Threatening To Sue.

Throw away account just in case.

A couple of years ago, I was approached by an acquaintance who knew a guy with an entertainment business who needed money due to things being slow from the pandemic. I was promised amazing returns in a short amount of time. The first amount I gave him was $1300 and 8 days later he gave me back $2000 so a $700 return.

He continued to ask for money for various projects so I continued to invest. I did continue to get some money back, not as much as I was promised, but I was told that he was working on a huge deal for company expansion and when it came together, I’d get all my money back plus the promised returns.

I was starting to run out of money though. At this point I have about $110K invested and have gotten $43K back. He suggested I ask around to my family and friends. So I did. I told them what he told me to tell them, promising amazing returns back in two weeks, the money is urgently needed because he was finalizing deals with his lawyers for this huge multi-million dollar company expansion. I vouched for the guy, told them I got paid but now they are all angry and my reputation is dog shit because none of them got any money back.

Still, he promises that we are so, so close to finishing the deal so I approached more people promising them the big returns and continued to give money myself. As it stands now, I’ve invested about $175K and have gotten $45K back.

This is where it gets tricky - one of the investors who didn’t get paid back told me that he spoke to a lawyer who said it was a scam and is now threatening to sue. I really don’t think it is a scam though as I’ve met this person, attended some of their events and speak to them regularly on the phone. Scammers take your money and run. Plus I didn’t do anything other than introduce people to an opportunity. It was their choice if they wanted to invest or not.

I still have faith that this is all going to come together and they just need to have a bit more patience.

Just wanted to confirm that I personally don’t have anything to worry about as far as potential lawsuits? The investors all have promissory notes with the entertainment company but I didn’t sign anything with anyone.