A European who has a trading co. in USA cheated me,I'm losing USD25000(6yr salary),can any lawyer help me?

Question

We signed agreement that ,
1) Build partnership: I spend USD25000 to buy 3% shares of his trading co in winmington,DE,USA.
2) Cooperation: He will give me RMB1 million in 20 days after i pay USD25000 so that I can register a trading co. in Shanghai,China as a platform to operate international trading business developed by both of us.N after I finish registration of SH trading co,he will provide USD5M bank guarantee so that SH co and get financial support fm HSBC,SH.
75days has passed fm the day i paid him,but he didn't pay me RMB1M at all. I asked for returning shares to him and get USD25000 back. But he rejected.
In our agreement,it says"The exclusive forum for any dispute related or in connection with this agreement shall be an ICC Arbitration court. Shanghai shall be the agreed palce of jurisdiction. Can I go to China court for jurisdiction because no ICC in Shanghai?He never ask my passport copy,can he register my shares in US? How to check his co. in US exists or not?Thks

Answer 1

First Step: Inform the US Embassy (Trade Desk) in Indonesia and the US to look into your complaint.

Second Step: Follow up with the Embassy through your own country's representation in both the countries.

Third Step: The party in Winmington, DE, USA will comply quickly.

No lawyer required. Use the Trade Attache of the respective countries.

Pradeep

Answer 2

WiLMington, Delaware

Sadly from what you’ve described it sounds like a scam to me.

Do you have any sort of on-going business relationship with this person? If so I would attempt to use this relationship to get my $25,000 back.

If it is a scam you have very little recourse, while the contract you have seems very legitimate – the person that you’ve contracted with is a crook. Locating him and his business will be difficult. He may employ numerous schemes to frustrate your opportunity to get your money back. In the end a written contract may define the terms of an arrangement, but the credibility of the parties is what is most important.

I am sorry for your loss.