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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I invested a large sum of money into an online investment

Customer Question

I invested a large sum of money into an online investment opportunity on behalf of a friend. The company has now gone bust and I cannot get any funds back. I would like to know if this means I am now personally liable to pay back the money myself, as I done this all through my name and details on theyre behalf. Now they are saying that I'm liable for the money as I said I would do it and the money was in my control for the process. So I'd need to know if they can legally take me to court to pursue me personally. I don't have the funds and the company shut down but they are holding me responsible and believe I should be liable to pay the money invested back. I'd be grateful for any advice on this matter
Submitted: 11 months ago.
Category: Law
Customer: replied 11 months ago.
When the money was given to me via cheque, I signed to say I was investing on behalf of friend with an anticipated return of 6 percent. But the company went busy before any withdrawals could be made. The website is down. PayPal was used to pay but it's been over 180 days. I just need to know am I personally liable as I signed to say I had control of the money and I was investing it to yield an anticipated not guaranteed return of 6 percent. I haven't got the funds to pay this money back. And I invested on they're behalf. I did not get any of the money. I have shown the money entering my bank and also leaving the bank.
Customer: replied 11 months ago.
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Expert:  Ash replied 11 months ago.

Hello my name is ***** ***** I will help you.

Did you ever say to your friend you would be liable or offer a guarantee please?

Ash and other Law Specialists are ready to help you
Customer: replied 11 months ago.
No, I did not say I would be personally liable if things didn't go to plan. I offered to send the investment on theyre behalf with the anticipation of a return on the money.
But now the company has shut downs d no contact details are available. Am I responsible to repay the money I sent on they're behalf? And is there a way to claim the money back without details now company has closed
Expert:  Ash replied 11 months ago.

As discussed no, you are not liable.