Debt obligation

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Latest post Tue, Sep 29 2015 7:56 AM by Taxagent. 1 replies.
  • Tue, Sep 29 2015 7:32 AM

    Debt obligation

    My name is Vicente Buenaventura, I am 72 years old. I would like to tell you a story about my friend Alberto Torresini, and we have been friends for quite a long time. This man is running a real estate company the, he has been introducing himself a licensed an architect. Cut to the chase, Alberto borrowed 250, 000 USD from me because his company is collapsing that he needs money to back it up. I, as a good friend who trusted a friend, I lent him 250, 000 USD with terms that he is going to pay it within 1 year, that was way back January 10 2013, it's already 2015. I have lost contact from him since 2014, little did I know he and his wife Araya Cha fled to Thailand from all the fraud they did in Italy. I met many people who have the same story with me. Alberto borrowed money from them but never pays and then flies to Thailand. What are the legal actions I can execute to get back my money considering that Alberto and Araya are gone to Thailand?

  • Tue, Sep 29 2015 7:56 AM In reply to

    Re: Debt obligation

    You did not expressly state in what country you all were located when you made the loan to Alberto. If it was Italy then very likely Italian law governs this and this board only deals with law in the United States. If the loan was made in the U.S. then you could sue him (though there is the issue of trying get him served) and you may report what he did to the police as it appears he may have committed fraud. You probably have similar options if this occurred in Italy but I'm familiar with the details of Italian law.

    But even if you succeeded in suing him in the U.S. and got a judgment against him (or in Italy as the case may be), there is the problem of collecting what he owes you. Unless he has assets in the country in which you sue him, the judgement doesn’t do you much good unless you can domesticate that judgment in a place where he does have assets. There are treaties that might allow you to do that in Thailand; I've not checked to see if Thailand is party to those treaties. You might also be able to sue him in Thailand, though I have no idea how the judicial process works in that country. 

    You probably ought to start by consulting a lawyer in the country in which you made the loan to Alberto and go from there. Just understand that with a lot of con artists, once they flee the country finding them and their assets to sue them and collect can be a very difficult challenge.

    By the way, even if your wasn’t a con artist, loaning any friend a large amount of money to prop up a failing business is just asking to lose your money. Failing businesses seldom recover, and anyone investing in or loaning to the failing business risks losing their money.

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