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Author: JAFO31 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121185  
Subject: Re: My financial boat to freedom sank, help!! Date: 3/8/2001 7:10 PM
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KMyles: "I foolishly (little "f") dumped a lot of money into an investment club that allowed me to purchase stocks in a company before they went public. Things looked like they were going well, but then the company went belly up. They never went public and to top it off, they claimed bankruptcy. Can I file this loss on my taxes and how much of it can I? I was unfortunately blinded by love and invested mucho dinero into this investment club (my girlfriend's father was the CEO of the club). Here is a list of what I invested:

7/98 = 3,000
8/98 = 3,000
1/99 = 3,000

What should I do? And what material do I need in order to take action? Please help."


No real answers, but how was the club legally able to buy shares before the company was public? I am way outside my normal purview, but even sales of non-public stcok are subject to SEC requirements, as I understand the rules, and possibly state law (Blue Sky) requirements.

Curiously, JAFO


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