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Nephew Lost $100,000.00 of my money

About 4 years ago my wife and I agreed to allowing our nephew, who was then learning to become an investor to invest $30,000.00 of our savings.  We gave him $130,000.00 of our money with the instruction to NOT use the $100,000.00 just the $30,000.00 until we see how the investment was going.

Needless to say he not only lost the $30,000.00 but also $70,000.00 of the $100,000.00 we told him not to lose.

He had been giving us $2,000.00 a month dividend for over a year and sending us false statements sayin our money was growing.

When he told us he had lost the money the last statement he sent said we still had over $100,000.00 in our account.

Anybody have any suggestions as to what we can do legally?

Thanks.

Im 71 years old and had to go back to work and my wife is 70.

Thanks

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Community Concierge

@GeraldR433229 I'm so sorry to hear what you're going through, Gerald. Legal hotlines typically provides brief advice over the phone and callers are responsible for obtaining information about any costs involved. If you are a qualifying low-income individual, legal aid is also provided. To access legal hotlines, websites and/or legal aid, I invite you to check out findlegalhelp.org. The American Bar Association runs this website.

 

Also, LawHelp helps people of low and moderate incomes find free legal aid programs in their communities, answers to questions about their legal rights and forms to help them with their legal problems. To find help now, go to lawhelp.org. 

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