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UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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Hi, Three years ago I lent a friend £4,000 to start up a

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Three years ago I lent a friend £4,000 to start up a business with a friend of his. Rather stupidly I trusted that he would actually invest the money I loaned him in a business. He assured me that he would provide me with the partnership accounts and keep me up to date with how things were going.
However, three years along the line, I've had a single Word document purporting to show the accounts. Quite frankly, a three year old could have produced something more convincing.
Until recently he continued to maintain that the £4k had been spent on computer equipment and that the equipment is currently at his business partner's home address.
A couple of months ago he cut off all contact with me and it is perfectly clear that there isn't, and never was, a business venture at all.
I realise that the issue of the outstanding debt is a civil, rather than criminal matter, but my question is: considering that I was led to believe that the money was solely for the purpose of a business investment, was there any element of fraud in the way that this money was extracted from me?
I'm aware that the issue
Under S.2 of the Fraud Act, it is a criminal offence to commit fraud by false representation, see below:
(1)A person is in breach of this section if he—
(a)dishonestly makes a false representation, and
(b)intends, by making the representation—
(i)to make a gain for himself or another, or
(ii)to cause loss to another or to expose another to a risk of loss.
(2)A representation is false if—
(a)it is untrue or misleading, and
(b)the person making it knows that it is, or might be, untrue or misleading.
(3)“Representation” means any representation as to fact or law, including a representation as to the state of mind of—
(a)the person making the representation, or
(b)any other person.
(4)A representation may be express or implied.
You may report the matter to the police and see whether they pursue the matter.
Hope this helps
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