Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,358 members, 7,780,978 topics. Date: Friday, 29 March 2024 at 06:45 AM

Seeking Legal Counsel - Crime - Nairaland

Nairaland Forum / Nairaland / General / Crime / Seeking Legal Counsel (276 Views)

Seeking Legal Assistance On A Nairaland Member / N30m Fraud: Herbalist Sacks Counsel, As Court Sends Him Back To Prison Till Sep / Counsel Withdraws As Offa Banks’ Robbery Suspects Are Arraigned (2) (3) (4)

(1) (Reply) (Go Down)

Seeking Legal Counsel by Moneywirer: 3:54pm On Mar 26, 2021
I don't know if this should be in this section or that of business but I just need some advice


I went into business with someone. A friend of mine introduced me to him as a very good forex trader. I asked to see his past results which he provided, from what I saw he has a track record of consistent profits.
So we signed an MoU that he'd be delivering an ROI of 15% of the five million I would invest and that at the end of 6months if I'm impressed I will double the principal. And if he defaults he'll have to pay me back my principal of 5M or if he can't his guarantor will have to pay.
We did this for 2 months. And on the 3rd month he called me and told me he had lost the money and that of other of his investors and assured he would repay me my principal.

Please lawyers in the house how best can I go about recouping my principal??
What's the legal process involved and would it involve him going to jail if he fails to pay back??



Lalasticlala, Ishilove, Mukina2, Dominique
Re: Seeking Legal Counsel by earleswood(f): 4:05pm On Mar 26, 2021
This is purely a commercial transaction and by your narrative no fraud is yet involved.
Re: Seeking Legal Counsel by Moneywirer: 4:08pm On Mar 26, 2021
earleswood:
This is purely a commercial transaction and by your narrative no fraud is yet involved.

So please at what point do I head to court because I really need my money back?
Re: Seeking Legal Counsel by earleswood(f): 11:04am On Mar 27, 2021
Only when he does not honour his pledge to repay over a reasonable time frame.
Re: Seeking Legal Counsel by Restroom: 10:39pm On Mar 27, 2021
If it is down in writing, in agreement, then no wahala. He should know the implications. But he is already signaling you, things may not play out as agreed.

As time goes on, if he fails to honor the agreement..... seek for professional legal help with a lawyer one on one.

Last last, u guys can reach some compromise
Re: Seeking Legal Counsel by emperorlaqrin: 4:41pm On Apr 23, 2021
Restroom:
If it is down in writing, in agreement, then no wahala. He should know the implications. But he is already signaling you, things may not play out as agreed.

As time goes on, if he fails to honor the agreement..... seek for professional legal help with a lawyer one on one.

Last last, u guys can reach some compromise


A contract can either be formal or simple(Parol) so either of the two it's binding in both parties.

Moneywire drop your what'sapp I could not see the mail you tried sending me

(1) (Reply)

Virginia Police Officer Fired For Pepper-spraying A Black Army Lieutenant During / Nigerian Soldiers Celebrates After Capturing A Boko Haram Stronghold / Girlfriend Wahala

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 11
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.