QUESTION
Can I charge my ex best friend with Real Estate Fraud?
Asked on Sep 15th, 2012 on Expungements - Washington
More details to this question:
My ex best friend of 25 years convinced me and many others to use our credit for real estate. She had guaranteed to all of us we would be safe and the properties were rentals so would pay for themselves so no matter what happened they would get paid for and we would never have to worry about our credit and it was only for 2 years. What she ended up doing was after the 2 years was up telling us different lies and eventually using the rental money on these properties to pay her own personal bills and let all the properties go into foreclosure lying to us telling us everything was fine. The deal was only supposed to be for 2 years then she said the property would sell so basically I guess she was trying to flip properties for profit. However she never had a real estate license so do not even know if it was legal. This is the short version.
14 ANSWERS
Ronald A. Steinberg
It sounds like a breach of a fiduciary relationship.
Answered on Jun 27th, 2013 at 10:12 PM
Transportation Attorney serving Mamaroneck, NY
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Palumbo & Associates, PC
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Yes.
Answered on May 22nd, 2013 at 2:53 AM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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You will probably have to sue for fraud on an hourly fee basis.
Answered on Sep 21st, 2012 at 11:40 AM
Using the money for herself: A) Larceny By Conversion; B) Fraud; C) Fraud In The Inducement.
Answered on Sep 21st, 2012 at 11:32 AM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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Tell your story to the police and DA and to the Board of Realtors and sue the lady for fraud if she is worth anything.
Answered on Sep 21st, 2012 at 11:29 AM
Plaintiff Animal Bites Attorney serving Missoula, MT
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Bulman Law Associates PLLC
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You can't charge her with anything. Only the state or federal prosecutor can charge a crime. You could sue her for civil fraud, but it sounds like she is a deadbeat, so you would be wasting your time and money on legal fees and costs. You just got experience. Never, never loan money to friends. Even if you tell them later they don't have to pay, you lose the friend.
Answered on Sep 21st, 2012 at 11:28 AM
Criminal Defense Attorney serving Anderson, SC
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The David F. Stoddard Law Firm
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There is no criminal offense or lawsuit called Real Estate Fraud. Depending on the long version, what representations were made, and especially any agreements reduced to writing, the friend might be guilty of the crime obtaining goods by false pretenses, or breach of trust (ie converting property entrusted into your care to your own use). T/he friend might be guilty of a crime related to selling securities without proper credentials or disclosures. The friend might be liable in Civil Court for fraud, conversion, breach of contract, or several other causes of action. You might report this all to the police and see if they can find something to charge the friend with. You might hire an attorney to put the case together for the police as this sort of thing may be over the head of most police detectives who are more comfortable investigating murder, rape, robbery and burglary. With this sort of thing, they often tell you to hire an attorney and take it to civil court.
Answered on Sep 21st, 2012 at 11:27 AM
Leonard A. Kaanta
Your could face criminal charges. You need an attorney.
Answered on Sep 21st, 2012 at 9:22 AM
Employment Law Attorney serving Beverly Hills, CA
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Dordick Law Corporation
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You need to retain an attorney to sue her as this is a complex area and you may have many options to try to right the ship or at the least cut your losses and avoid foreclosure on your credit.. She basically breached her fiduciary duty to the venture. I have had clients and friends experience similar deals, which were essentially ponzi schemes, but at the end of the day, does your former friend have any assets to pursue? She will likely file for bankruptcy. Most times the investors turn this person in to the police for prosecution.
Answered on Sep 21st, 2012 at 12:48 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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Yes, but it will be difficult to prove. This was a complex situation of many transactions over the course of years. There will be questions of intent, knowledge, due dilligence, reliance, loss and mitigation of damages.
Answered on Sep 18th, 2012 at 2:41 PM
Brain Injury Attorney serving Baton Rouge, LA
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The Lucky Law Firm, PLC
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This does not appear to be real estate fraud. It sounds to me like more of an investment that went bad. Unfortunately, that happens everyday. However, you can call the Louisiana Real Estate Commission to double check the rules and regulations of what all went on.
Answered on Sep 18th, 2012 at 2:41 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Sorry to hear your story. I would need the details and everything which is in writing. It sounds like you invested in a real property venture which failed, and you have lost your money and your friend. I need all of the details before I can form a legal opinion as to the viability of a cause of action.
Answered on Sep 18th, 2012 at 2:40 PM
1 Award
You have a case, but recovery of money may be very difficult. You should hire a financial investigator to determine how much your ex-friend has in assets. I also suggest going to the district attorney's office to see if they will pursue her criminally.
Answered on Sep 18th, 2012 at 2:40 PM
Thomas Edward Gates
A prosecutor is the only one that charge someone. You can file a police report, however. You may also sue her in a civil suit.
Answered on Sep 18th, 2012 at 2:39 PM