A friend has decided to invest a large sum of money in a new business venture that was offered to him. But because there is a large amount of money involved, I told him to check first their private placement memorandum. It is a a legal document that institutions and businesses use to describe the securities they are offering for participants and buyers. I suggested he ask for a copy and have his lawyer check it just to make sure that his investment and his interests are protected. Better safe than sorry! let’s face it, there are lots of scammers out there and they will do everything to steal your hard-earned money.