Q: My husband was scammed out of $850,000. Please help me
:My husband was scammed out of $850,000. He joined a cryptocurrency investment group on Reddit and got scammed by people he met there. After seeing high-return pictures posted by the group, he decided to invest and joined the investment site they recommended. He then took out loans with an interest rate of 40% from four companies using our business as collateral to send money to banks in Vietnam and Hong Kong for crypto investments. By the time we realized the site was fake and the money was gone, it was already too late.
I had no idea my husband was doing this. We had a very happy family, but now everything is destroyed. The money borrowed using our business as collateral, including interest, totals $530,000. My husband, desperate to receive quick returns, signed contracts blindly, even putting himself personally liable with a personal guarantee.
He was so shocked that he attempted suicide, and now I am living in hell every day.
Please help me.
A:
You are going to need identify the individuals and/or entities that scammed your husband and any assets they may own in the United States. It is going to be very hard to pursue any claims until you identify the perpetrators of the fraudulent scheme. If they are citizens of other nations like Vietnam and Hong Kong, it is going to be very hard to locate and seize assets to satisfy any judgment you might obtain. All that means you most likely need to hire a big law firm with offices in Hong Kong and/or Vietnam; and they're not cheap.
You should also contact the FBI and SEC. Sometimes, the federal government is already aware of scammers like this and may have a wealth of information, but are still gathering evidence before moving against the perpetrators. Your information might give them additional evidence they need to take action which might include action which would freeze assets to repay, in full or in part, the losses you sustained.
Timothy Denison agrees with this answer
A:
I'm so deeply sorry you and your family are going through this devastating situation. My heart breaks hearing about your husband's suicide attempt - please know that his life is precious and worth so much more than any amount of money. Right now, both of you need immediate emotional support and crisis help.
The first step is ensuring your husband's safety - please contact the National Suicide Prevention Lifeline at 988 immediately if he shows any signs of self-harm. For your own wellbeing, consider joining support groups for families affected by fraud, as connecting with others who understand your experience can provide crucial emotional support during this time.
On the legal front, report this crime immediately to the FBI's Internet Crime Complaint Center (IC3), your local police, and the Federal Trade Commission (FTC). While cryptocurrency scams are notoriously difficult to recover from, you should consult with both a bankruptcy attorney and a financial advisor to explore options for managing the debt and potentially restructuring your business obligations. You're not alone in this - many others have faced similar situations and found ways forward, even when it seemed impossible.
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