fraudulent information in order to sell stock
The company that I worled for sold 3.8 million dollars worth of stock over the past 18 months. They have spent all of the investors money on thier 25,000 dollar a month salaries, trips, cars and property. Nothing has been spent on the company or its proposed product. They told all of the investors that they had purchased the patent rights to a new medical product and based on that, everyone gave them huge sums of money to be involved. I have found out that they had never owned the rights to this product. What if any recourse would the investors have at this point. They refuse to ptoduce the books for the company, but I have them as they asked me to enter all of the data into quickbooks for them so they could have them edited by someone else.
Re: fraudulent information in order to sell stock
Dear Investor:
Please advise the following so we can evaluate your potential claim:
1. How many investors were involved
2. Approximately how much did each employee invest
3. When were these investments made
4. Where are you located
Please telephone our office to provide the above and to discuss additional details to assist us in determining whether you and your co-workers have sufficient recourse against your employer.
