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A nominated founder promises you, investor, they have a miraculous lab machine and take a billion dollars. Turns out they defrauded you. With all the pile of l
by rmbyrro 5y ago
A nominated founder promises you, investor, they have a miraculous lab machine and take a billion dollars. Turns out they defrauded you.
With all the pile of legal papers you have, what can you do to take your money back?
- jimhi 5y agoI have been in two lawsuits related to my startups. Your legal options depend on the country the company is operating in and the home of the person you are dealing with. You can't serve them papers without knowing their identity. Not knowing their citizenship adds additional flight risk. A court can garnish wages and send someone to jail. Most lawsuits end in reconciliation before it goes to court because of the potential costs. Both of mine did. This is why investors prefer to deal with American C corps above all else. This is also why foreign investors want to deal with a Hong Kong subsidiaries with Mainland Chinese companies.
- NavinF 5y agoI think you missed the Theranos joke. His point is that it doesn’t matter if the company is a C corp or some blockchain org, you can’t get your money back once it’s been spent by the company.
- HWR_14 5y agoIf the money is irretrievable, at least identified people can be sent to jail.