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Pastimes : The Perils and Pitfalls of Investing With "Friends"

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To: Done, gone. who wrote (16)10/26/2004 1:33:38 AM
From: Done, gone.  Read Replies (2) of 377
 
I could go on, but I won't. Months later I shot off an angry email, mentioning law may be my next recourse. This came back:

Dear Sucker,

You own 25% of Market Spirit. The site is worth in excess of 120 grand as it
sits, and we are working on making it much more valuable.

We're still working on it.

Right now. You own 25% of the site.

I sent you a polite email asking if you wanted a rundown of what we are
doing and you responded with a legal threat.

I don't appreciate legal threats, my friend.

Feel free to have your attorney call me. 123-456-7890


I asked for explanations, of course. This came back:

cc:Some Other Fake Programmer

Sucker, let me clarify two things for you.

First, the stock trading business I was in does not now, and never has had
any connection with Market Spirit or Suckerburner. The money that I was
trading with was not my money, it was raised by my (now ex) business partner
in that business. I never put any money into that business, not mine, not
yours, not anyone elses. All I did was trade in the accounts. One of the
investors in that business wanted to learn how to trade, and he paid MY EX
PARTNER 50 grand to learn. That money went into that business, and my ex
partner lost all the money, on his own, in both accounts, including the 50
grand he raised for me to train the investor, and he lost it all without my
knowledge. That is the reason that he is my ex-partner. That is the reason
that I am struggling for money right now. It has nothing whatever to do with
MS or with you.

Secondly, the money you invested was used for the exact reasons stipulated
in our Agreeement. I don't spend a lot of time on MS because I don't have a
lot of time to spend on MS and frankly I became disappointed with the speed
of progress for the upgrades, coupled with the fact that almost all the
members left. I do spend some time on SI because I have some friends there.
The MS upgrades are being done.

Your conclusions about my interest in MS and the other sites, and my
interest in this project, are faulty. I was interested in it before we ever
met, and I am much more interested in it now than I was then. I am fully
aware of our agreement regarding setting up another site for the art world
using the technology we create for MS.

Choose to believe what you wish. I have never lied to you.

Scammer


I don't recall how I responded. I could dig it up, but who cares. Anyway, later came the email already posted here:

Message 20687061

Haven't been in much contact since. Some boohoo in my email box here, some other there, I don't remember it all, but have all the emails saved, including the trading book stuff and all...

Needless to say, assuming this "friend" was a friend is The Worst Mistake I have ever made, money wise.
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