Have you lost your Money in a Fraudulent Business?

I was almost cheated too but luckily I managed to pull out in time. The business partner keep asking me to invest more, saying profit margin is good. I had my doubts because I didn't see much profits from my initial investment. When I probe her, she says the extras are used to reinvest in my behalf when I didn't give her the permission at all. Sensing something is wrong, I demand all my money back or I call the police. She had no choice but to return me the money.

This is really a disaster or frustrating. I guess the only thing a friend can do now is submit a sue to the authority. And once the person comes back he/she will face this all the charges. Shame on that person.

Well I lost $5 or $10 bucks here and there trying to invest in some online businesses that turned out to be scams/fraud, but I've never lost that much cash investing thank goodness, though I'm sorry to read that your friend lost so much. I'm grateful that I never had to experience any a big financial loses due to fraud or scams but I must also add that I would never invest that much on a business venture especially without having some sort of assurance that I'll get a return on my investment. also its very dangerous to deal with anyone whom you know nothing about whether it be business or just dealing with people in life you cant trust everyone especially when it comes to money, your friend should have researched that person and his so called business before investing her time or money because the $5 to $10 dollars that I invested online is noting compared to $17,000 dollars my goodness soo sorry.

That is really a bad of someone to do to a friend or to anyone on the whole, sorry for your friend but he too should have questioned how can someone really double you money in so little time if that is really possible, these scammers are everywhere so you to to always be on the look out for them .

I've been "scammed" or as you call it, "fooled" a couple of times already. Just recently, I invested a dollar at an online HYIP program not knowing it was already a scam. A dollar isn't much but don't get me wrong here, every penny does count and I did work "hard" for it. Ever since then, I'm doing heavy research for sites before joining in and most especially before investing my time, sweat, effort and most specially my money. But as for your friend's place, I do feel sorry for him. :-( Not only was the money lost, but also the trust which is very important. I never tried to catch the scammer; it was online plus + it was already reported as a scam. I would suggest to your friend that he would file a case against that scammer. Hope this counts, -Jaja