Corporate Law Investment loss dispute between friends

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InHell

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Dear LawProfessor/SeniorJudge, I am living in Hell and need help. I have been trading index options for years and had been very successful since started 6/7 yrs ago with annual return over 60% every year (20 folds over 6yrs). I set up a LP a few years ago to admit family members. Last year a friend learnt my success and wanted to join in. After several months of hesitation and pushing back I let her in without written agreement. She wired in some funds over time. Her share had grown nicely (50% in 10 months) within the LP until the recent (10/2008) market crash. Our LP account was essentially wiped out due to a large margin call. I lost all my investment (>1M) including my IRA account and she lost about 150K. I stressed the high risk and told her option and margin I was using when she was trying to get in. She had been investing in stocks for years with her sizable fund without much success before joining me. Now she wants me to pay back half of her loss even though I lost everything except my family (of 4) and a house. Is it fair for her to ask me to pay back her loss and does she have a legal case against me? I am not a broker/adviser and I work a full-time job and was doing this in spare time. LP only includes family members and a couple of friends. Thanks!
 
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