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Posted by Bul thistle on April 9, 2007, 3:10 am
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I have a strange client who borrows money overseas that is
"invested" in real property here is the US. At some
(unknown) point the money gets paid back.
Now this is all old world deals, like inter family loans,
and there appears to be no obligation for interest nor
profit rights. These things aren't even documented, just
the old verbal agreement in some foriegn language.
Some of the "loans/investments" cash is used for the
"managing partners" personal expenses.
Nice mess yes??
Anyone with experience
Binghamton, NY
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