How do I recover my money

[volcanica]

All of this started in 2022. A very good friend of mine said she is investing in a business and asked me if I would like to. I was skeptical at first but she showed me her account statements saying she has been receiving 4% of her investment as a profit monthly. Because we know each other for more than a decade, and we always had a decent relationship, I went with the word of her mouth and invested £8k. After 2 months I received nothing. On the third month she sent me contract saying I will receive 4% if business makes profit and if it doesn’t I will have to bear a certain amount of loss, and if I decide to get out of the business I can(which I tried to but she never replied or answered my calls). After that she started avoiding my calls. On repeated calls she one day answered and said she has lost all the money and now nothing can be paid back. I pleaded with her to give me money back even on instalments. But she is downright refusing to do so saying she has lost her money as well so she will not repay me anything. I never signed the contract or anything because she sent it to me 3 months after I lent her the money. She’s saying I can do whatever but she will not pay me as She doesn’t have any money left. Please let me know what are my options to recover my money?. I have been chasing her since 2023 and she has received only 3 of my calls in this period. I have bank statements showing I transferred her the money with the reference she asked me to. Any advice plz? I know I have done a stupid thing but I just need advice, and no rude comments please.

Before pursuing and potentially being out of pocket paying a solicitor, have you contacted your bank provider where you sent the money from? You might be able to go down the scam/coercion route and not have to pay anything out to a third party.

As this was three years ago and, whatever this is, it is not to be an APP scam, I would be very surprised if OP's bank helped.

@Wheelz46 Thanks I’ll be calling the bank if they can help. My partner gave me the same idea

It sounds like a Ponzi scheme to me. You have the unsigned contract, which should have been signed before she invested the money, in my opinion. She wasn't a friend, you were just someone trusting who she could fleece. You need to take what information you have to a solicitor and see what recourse, if any you have. Unfortunately, it could be an expensive lesson learnt.

Sorry I posted too early. Why on earth would you hand over £8k with nothing in writing …. Sorry you will not get that back and don’t waste money on legal fees.

If you have the contract it should hopefully have the company name and number. Looking on companies house you should be able to see how many shares you own in the business. You should also be able to see whether the business is making a profit or not.

If you aren’t listed as a shareholder. Or if the business hasn’t paid you dividends when it has paid those to other shareholders, then this is likely fraud.