We were approached by friends about loaning them money for closing costs on a house they were buying. I have the e-mail to prove that was the plan for the money. The friend and his wife actually took us to a house being built and said it was theirs. They called us after settlement to thank us stating it would never have happened without us. We actually took a home equity loan out to help them. We hounded them for every payment for about a year which is when they stopped paying altogether. We started legal proceedings and obtained a judgement. With that judgement we could investigate their private financial accounts. It proved they NEVER BOUGHT A HOUSE! In fact there is about 16 judgements against the wife and they have over 5K in loans that are in default. I feel I should be able to press charges for Theft by Deception. Am I interpreting the law wrong? If not, who do I go to? The police?

Would appreciate ANY feedback except "Don't be so stupid!"

Thanks!

Do you have anything in writing with them agreeing to pay you back for this money regardless of what it was intended for? If not, how are you going to prove that you gave them anything?

I am so sorry this happened to you.

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Originally Posted by Emland

Do you have anything in writing with them agreeing to pay you back for this money regardless of what it was intended for? If not, how are you going to prove that you gave them anything?

I am so sorry this happened to you.

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Yes, the agreement is written up with all the terms of the loan.

Thanks

The big problem here is you were hoodwinked by a oair of pros who owe more than they are worth. Your judgement is in line with the other 16, sadly you may never see a dime. It wasn't theft by deception.

It seems it would be worth contacting the local authorities. These are serious con-artists, though, by your description. Most likely they will get rapped on the knuckles by the law and sent on their merry way to rip off someone else.

Here in Virginia you could file a civil suit, but if they have no money, you aren't likely to get anything other than a judgement. You would then have to get a garnishment against their wages and as soon as they move out of the state, you have to start over wherever they are (if you are lucky to know where.)

Good Luck.