Video Blog: What Should I Do If I Was Sold A Promissory Note That Has Defaulted?
Attorney Jeffrey P. Coleman answers a common question about promissory notes.
Video Transcript: If you were sold a promissory note or limited partnership from a broker-dealer and it’s now in default, you may want to look carefully to determine whether this qualifies as a Ponzi scheme. These are the type of investments where we see, typically, that the promissory notes or limited partnerships might not be registered. Unregistered security must go through a lot of different kinds of disclosure so that the investors, who should be qualified to evaluate those risks, really and truly understand and undertake those risks before the investment is made.