A very old friend of mine approached me during middle of 2006 to invest in his business, he was going to start by the end of 2006. I decided to become a silent partner in the business with 20% equity. He went ahead and formed an LLC in the state of Virginia. However, instead putting his name as member he put his wife's name, who signed the papers. He then applied for a SBA backed small business loan for $400K, which he asked me to sign as a guarantor, which I did. I addition, I injected the cash of $30K in the business. As I was a silent partner, I did not ask much question how the work was progressing for the business opening, neither my name was on the bank account. Come middle of 2007, when I asked for what is going on, I came to know that the work on the business had not even started yet. Moreover, I came to know from the lending bank that all the money had already been withdrawn. This led me to investigate, and I found that my business partner took all the money and was using that in his other business. Moreover, he did not give me any financial report for the year 2006. Currently, he has stopped making monthly payments to the bank, and the bank is calling me for recovery. Do I have any option to get out of this mess?