fraud

October 15th, 2012 by Questions

A family member borrowed $30,000 from me in 2004 and has not paid it back. I just found out that they went bankrupt 5 days after I lent them the money. Did that person break any laws? Should I call a lawyer, the police, or both? Thank You, Gord.

Posted from: Ontario

Questions

One Response to “fraud”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

From the sounds of it the individual in question may have obtained that loan fraudulently (i.e. they had no intention to actually pay it back) and as a result if you would have taken certain actions at the time it would have survived the bankruptcy. Now their may still be some recourse, but it is a little more difficult as the bankruptcy was so long ago. However, I think you are correct that you should first contact an insolvency lawyer and obtain an opinion as to what the likelihood of success would be in a matter such as this.

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