Fraud victim searching for info/advice

[Chelsea C.]

Hi,

I'm not comfortable posting my real name but I read an article about this site in my local newspaper. The caption mentioned that this blog helped victims of an investment fraud scheme connect. I also believe that we have been victims of an investment fraud.

We took out a second loan on our home and invested over $160,000 with our neighbor and owner of a corporation. We were supposed to be partners in converting a 10 unit apartment bldg. into condos. Well, long story short, he sold the buildings (without converting them) and says that he doesn't have the money to pay us back. Now he says that we invested in his corporation and we have to wait until he earns an "appropriate interest" before he will pay us back. He has endless reasons for not paying us back.

He refuses to give us any detailed accounting from his corporation and now we discovered that he has opened several corporations in his name, his son's name, etc. We are struggling not to lose our home while he just bought a new Mercedes, etc.

I'm just looking for info on how to get our money back. We talked with attorneys and they all agree that he committed fraud but we don't have the money to retain them. Besides, two of the attorneys told us that while we may win a civil suit against him, it's only a piece of paper and we will probably have trouble collecting any money.

On attorney told us specifically NOT to contact the District Attorney because the DA is only interested in shutting this guy down, not getting our money back and it would only lock up his assets.

We don't know who to believe or what to do.