Have you been investigated for borrowing money? - Posted by Todd_OH
Posted by Todd_OH on October 21, 2003 at 11:23:23:
Wow! What a morning. First a dentist appointment, then my 2nd investigation by the Ohio Division of Securities for borrowing private money. The first one was early 2001. Besides me and a HUGE investor in Toledo, Ohio, has anyone else out there been investigated by their State Division of Securities?
Having been through this before, I have no fear of these guys since I know the securities laws and I comply with them. If you DON’T know the laws in your states, then you should read up on them if you are borrowing private money. Believe it or not, PROMISSORY NOTES and MORTGAGES are SECURITIES. The first time I hired two different securities attorneys. This time, I went down by myself.
I think that stock brokers are having people (me) investigated because people are liquidating their stocks to invest with us…
DEFINITION (for those who don’t know): “Private money” is money borrowed from private individuals rather than from a bank.
Hope your morning was more fun than mine