Tell me more ×
Answers OnStartups is a question and answer site for entrepreneurs looking to start or run a new business. It's 100% free, no registration required.
up vote 4 down vote favorite

He wants to open a Chase Bank account for the investment. So my question is how do I protect myself if for some reason this person is trying to lauder money through my project? What protection can I put in place if it turns out their desire to invest has an ulterior motive?

share|improve this question
2  
Looks like a scam. Next step, he sends you a bill for the fees to open a bank account. Or something similar. – Alain Raynaud Jun 7 '12 at 2:14
2  
It does sound too good to be true. Ask him for more information about other projects/businesses/websites he's invested in, then try to validate that he actually was involved. If it is a scam he won't write back. – james Jun 7 '12 at 2:23
Why does he want to open the account? Red flags all over the place. Check out this thread for other telltale signs: answers.onstartups.com/questions/17887/… – Henry the Hengineer Jun 8 '12 at 15:11

1 Answer

up vote 1 down vote
  • Get the background of the guy.
  • Get information about where he had previously invested and the outcome.
  • Before sign anything get legal advice
share|improve this answer

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.