Need Advise, Help Pls.

The story goes like this.My friends was involved in this networking business last April 2010 they invested lots of money for the product.Most of them invested 300k up because the company promise a good catch like they said if you reached that certain position you will get so many benefits.So what they did they buy the position.Most of them owed a lot of money from the bank,credit card,friends and family.They can't pay back the money because everything that company promised is not true.The saddest part most of them quit their job to do full time in this networking.They said it is only working for four months and after that it's very hard for them to sell the product because most people knows the companys reputation.Last September there was a news paper telling that this company forcing people to borrow money to invest in the company but at the end of the day they can't pay the debts.My friends asking if there is a possibility that product can be refunded because most of the product still in the company.They really need help, they don't have any idea how to ressolve this problem. Thanks in advance.

So it means they can't ressolve this problem.But thank you Krips for your shared knowledge.So sad to know that they can't do anything..

[UPDATE] Please note that fee quotes stated in historic postings may be out-of-date.


There are consumer protection laws such as the Sales of Goods Ordinance and the Supply of Services Ordinance that protect those consumers who have paid money to sellers in exchange for goods. However, these laws are consumer based and probably do not apply here because your friends were the sellers of the product and not consumers even when they bought for resale.


It appears that bringing legal proceedings against the company is the only course of action. This will be a contractual dispute, and the court will look to the expressed and implied terms of the contract. Any investment, whether it be in goods or services, carries with it risk to the investor. Often, contracts related to investments have language addressing the risk and liability associated with it.


Weir & Associates would be pleased to advise you further in this unfortunate situation. Please contact the firm for more information on our retainer policy.


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