Lost friend's investment in the stock market

[leeandrews]

A few years ago a friend saw that I was making money as an individual being succesful (at that time) trading stocks and gave me $60,000 to invest at my discretion. I gave her a personal guarantee. Well, over the next several months I manages to lose not only ALL of her money but $120,00 of my money (documented). I did not represent myself as a "broker", just as someone who had success trading from my home. I fully acknowledge that I owe her the balanced of $55,000 not paid back but she is threatening to put me in jail, etc. I would like to know if I have done anything ILLEGAL/CRIMINAL by taking her money which she gave me and putting it into my stock trading account. I NEVER TOOK A PENNY FOR PERSONAL USE. Thanking you all ahead of time for your legal response. I just feel horrific about what has transpired.

[SSandecki]

Well, if you aren't a broker you aren't abided by trading and security laws; however depending on your agreement you may or may not be liable to pay her back.

[JEpstein]

Well, if you aren't a broker you aren't abided by trading and security laws; however depending on your agreement you may or may not be liable to pay her back.

Agreed. So your focusing on whether your going to jail and we are saying you may not even owe her the money. But tread very carefully. Act like you dont care and a judge will turn the tables on you.

[Trial2Day]

Your in the wrong for acting as a "broker", but assuming everything you said was true, you won't go to jail.

[Court Reporting]

Well legally speaking she can drag you to court and put you in jail, But you dident mention here when she gave you money did you signed any written statement that you have taken money from her, If yes then you are in problem, If no I think there are chances that you can win this case, because what court believes in is Proof.

[jitendrasnv]

hello !!

As you have committed mistake legally so for sure if your friend can take any kind of action but i think you can solve this matter by mutual understanding.

Thanks

[Hosanna]

Many people have destroyed their lives by living to make money. Notice carefully that the Scriptures are speaking here to they that will be rich That is--they are NOT rich yet. Millions of people have "pierced themselves through with many sorrows" by trying to retire early or "get ahead" in life. In case you haven't figured it out yet, kindly said, the rich men who control our government and economy DON'T want us to prosper. I mean, when you have to pay for 3 houses just to buy 1, something is dreadfully wrong!

When we have to keep paying into the social security system while being told repeatedly that it may NOT be there for us when we retire, something is very wrong! When we heard of Enron retirees being cheated out of their life-savings, we definitely knew something was wrong some people personally lost over a million dollars. The most sickening part is that the politicians in Washington condoned Enron executive's crimes by doing nothing to prosecute them. This is because Enron made large campaign contributions to those politicians. God will judge those evil people!

In light of all the corruption, government scams like $59,000,000,000 being stolen from the HUD program, corporate crimes, deficit spending, increased taxes and so forth...I have no desire to even try to play their game anymore. I have no desire to "get ahead" in life. I could care less about working overtime, but that's me. I don't live to work. I won't do it. I want to spend the time with my wife and children. I'm not a slave to their system. I've never bought a lottery ticket in my life and don't plan to start now it's just an added tax on the stupid. I don't gamble at casinos and wouldn't be caught dead betting on horses why give those greedy men and women your money?.

[CriminalAttorney]

i think all comments here are right. it'll be hard to prove in court if you didn't sign anything about taking her money.

[renjie123456]

Yeah. It’s good to be yourself. Same with you, I will try to do something. So I support your decision!