Are you kidding? Sue someone? Do you realize how Creditor Proof these guys are? Unless there is Criminal violations you won't see one penny. I myself am Creditor Proof. Set up an APT (Asset Protection Trust) thru a foreign situs (Isle of Mann). No one can get my money, incl the US gov't.
"MSNBC said there are approx 11,000 different hedge funds in the US alone. " 1/3 of them are in Connecticut http://www.cthedge.org/
totally different animal. its akin to signing documents that you are a professional whatever and know the risks then getting killed doing whatever. same thing with the hedge fund documents---the investors are asserting they are knowingly taking risk with risk capital. surf
as they say, good enough for government work. At the end of the day people just care about the net. If you show 2/35, that's fine, but you must be able to reassure people that they'll still get their 12% net.
If they do business in the United States with United States citizens, they can be sued here. Whether or not the plaintiff ultimately wins the case, the cost of defending a Federal lawsuit can easily exceed $200,000.00 USD in the discovery phase alone. I hate to break it to you, but if you are a US Citizen or foreign national living and working in the United States, there is no safe haven for you. Such shelter arrangements were theoretical protections in the pre-9/11 world, but in the post-9/11 world they are laughable. -segv
I always talk"Real World" not some crap that is always talked about on message boards. The best attorney will always tell you UP front, "Winning the case is easy, collecting on that Judgement is the Hardest part." Do not be naive enough to think that anyone can sue Wall St. My attorney once showed me a chart of Cases Won vs monies actually collected. After all cost were paid you were lucky to get 10-12 cents on the dollar. The whole civil system sucks, the only people who make money are the F'n lawyers, period. Anyone who thinks otherwise is a naive fool. Try and get my money, just try. Yes, there were agreements that were signed after 9-11 to make it easier for the US govt to get your money. Since then I have made other changes to stop anyone from getting my money. About the only persons who would have a chance at getting my money would be the US govt if I were a TERRORIST. Guess what, I am NOT. NO civil matter will ever see my cash. I was sued in 2001 and I did NOT defend myself. The LOSER Plantiff was so confident he would destroy me I let him "Think" he had a chance at getting my money. I hired a lawyer and told him to drag the case on as long as he could without it costing me more than $12,000. I showed my lawyer how I was Judgement proof and he laughed. The other attorney never even bothered to run a search of my home to see how Title was held. My guess is that the other attorney didn't friggin care. The Plantiff hired a ton of Experts to destroy me. The Plantiff spent over $60,000 to win $240,000 from me. I let him win because I was not going to defend myself. After not paying the judgement for 2 years I was hauled into court. I had to provide all legal docs, tax forms, holdings, etc... 5 Min into the proceeding (Discovery of Assets) the other attorneys jaw dropped. He said "we aren't going to get any money from you, are we?" I said "not one fuggin penny." The attorney said "job well done, we were wondering why you didn't aggresively defend yourself. This explains it." He was very cordial and told me HIS client would go ballistic, which he did. The plantiff hired 2 more law firms since then and both told him he can't get one penny from me. To date I owe him over $400,000.
Barton Biggs' book "Hedge Hogging" is a good read on the nuts and bolts of raising money to start a HEDGE FUND. There is an enormous amount of "risk" money looking for a home. College endowment funds have billions to invest. They will throw $5 million into several funds to see how they like the performance. Look how many people have 20 million in cash to invest. They will put $1 million in a small hedge fund. The hard part is how to make that return!! Raising the money is easy. Buying 5 million shares of Intel does not do it for them. This is why, IMHO, that we see such huge runs on some momentum stocks: GOOG, HANS, TASR etc etc. The hedgies get in there big time. Or commodities. The Feds want to get involved but everything they want to prevent is already in the law as regards to fraud, theft, etc etc. If an hedge fund investor sued it would be very difficult if not impossible for that investor ever to be allowed to invest in a fund again. No one would want to deal with that type of investor. Remember, these are private funds. They can and do discriminate SteveD
simple question....was it YOUR money or was it HIS money...the problem I have with "financial planners" "hedge funds" etc is once the money is in THEIR hands it is no longer Your money but THEIR's.
Not really sure what your question means but I'll try and answer. It was MY money he was trying to get, not money he had given me. Either way he had NO chance of collecting. I have sinced talked to the Initial lawyer and he told me the Plantiff went F'n ballistic when he told him I was Creditor Proof. The plantiff then sued his own lawyer and refused to pay the Legal fees involved.
I guess I'm the one that doesn't understand. There is a judgment against you for 400K....out of thin air...ppl are out to "GET" your money????? Was this an investment gone wrong? Just noisy you certainly don't own anyone here an explanation.