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Old 02-01-2008, 07:44 AM
loveroy loveroy is offline
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Join Date: Feb 2008
Posts: 1
Limited Liability Company scam?

My future son-in-law told me that he has invested in a LLC that guarantees a 20% return. He "loaned" the LLC director $5000. The director invests the money in gold. In five years my son-in-law has his big payday. In the meantime the director will sent statements (monthly? quarterly?).
Being unfamiliar with LLC's, I investigated the director's webpage. The designer did a great cut/paste job.
According to the Better Business Bureau, the LLC started in August,2006. The LLC employees 3 people: the director, his wife, and another person.
Many things about this financial adventure disturb me but the secrecy behind the deal is one of the most unnerving.
My future son-in-law thinks I am nuts for being upset about this investment.
One last comment, the director wants my future son-in-law to withdraw his IRA, give it to him, and he sets up a new IRA with Equity Trust. Once again the director quarantees a large return.

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Old 02-01-2008, 08:08 AM
Dr.Valdez Dr.Valdez is offline
Nothing is as it seems
Join Date: Jul 2007
Location: House
Posts: 235
Re: Limited Liability Company scam?

Don't let him do it. I woujld ve very careful about this. First of all the 20 percent is a bit unrealistic. It really sounds like a hustle.

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