Breach of trust and responsibility by Met Life Rep

[bonded56]

About five years ago, I had some money to invest, so I called my Met Life Representative who has worked with me before. I told him I wanted to invest about $100,000.00 and did not want to ty it up for a long time just a year or so investment. We spoke and he said he couldn't do anything for me. Then a week or so later he called me to say the he new of and investor who was looking for starting capital on a new business and needed $92,000.00. According to him it was a sound venture and the person was beyond repute. He said I could earn back probably 20% on my money. I met with the man and he show me tax papers on a business he was trying to buy. He drew up a contact putting the assets of the business as colateral. My Met Life Rep witnessed the document. They both had the same last name and when i asked him about this my Met Life agent said that the fellow was his nephew. This made me a bit suspicious, but this was my Metropolitan Investment man. I trusted his opinion.

Needless to say their was no business, no assets. It was all a lie. I was paid back some of the money but am still owed $65,000.00 dollars. Two years ago the nephew agreed to sign in front of my Attorney a Confession of Judgement for $65,000.00 plus 9% interesnt is the funds were not paid back with six months. They have not. My lawyer says that he has everything tied into corporated accounts and getting the money may be next to impossible. I call the legal department of Met Life and that called me back eager to find out the name of the Rep. Should I go after Met Life now? I feel foolish, but I trusted my Met Lie Rep. What should I do?

 

[mike]

Why do you think that you have a cause of action against Met Life? Was this something done through their business or did this representative do a business deal on the side claiming to be "bona fide" because he's also employed by such a reputable company? At this point I think calling Met Life or threatening to might cause this guy to think twice about returning your money. What has your attorney done so far and what are his suggestions? Why aren't you going after the Met Life rep and letting him know that you will report his conduct to his employer unless he pays up? How about threatening to call in the State Attorney General to report fraud and pierce the "veil" of the "corporation" which seems like nothing but a sham? I don't think we have enough information. Sounds like a very interesting case and I'm very sorry about what happened.

About five years ago, I had some money to invest, so I called my Met Life Representative who has worked with me before. I told him I wanted to invest about $100,000.00 and did not want to ty it up for a long time just a year or so investment. We spoke and he said he couldn't do anything for me. Then a week or so later he called me to say the he new of and investor who was looking for starting capital on a new business and needed $92,000.00. According to him it was a sound venture and the person was beyond repute. He said I could earn back probably 20% on my money. I met with the man and he show me tax papers on a business he was trying to buy. He drew up a contact putting the assets of the business as colateral. My Met Life Rep witnessed the document. They both had the same last name and when i asked him about this my Met Life agent said that the fellow was his nephew. This made me a bit suspicious, but this was my Metropolitan Investment man. I trusted his opinion.

Needless to say their was no business, no assets. It was all a lie. I was paid back some of the money but am still owed $65,000.00 dollars. Two years ago the nephew agreed to sign in front of my Attorney a Confession of Judgement for $65,000.00 plus 9% interesnt is the funds were not paid back with six months. They have not. My lawyer says that he has everything tied into corporated accounts and getting the money may be next to impossible. I call the legal department of Met Life and that called me back eager to find out the name of the Rep. Should I go after Met Life now? I feel foolish, but I trusted my Met Lie Rep. What should I do?