My father in law has a history of entering into awful investments looking for quick return. Several of his “investments” have turned out to be scams or ponzi schemes. He has lost a significant portion of their net worth (>50%) over the past decade. Most of these have been with the knowledge of his wife, but a couple were behind her back.

Most recently he has started talking about an investment in a complicated business deal involving land, mineral rights, Amazon delivery truck housing among a couple of other facets of the business. The person bringing the opp to him hasn’t produced any of the documentation that I told him to ask for (p&ls, operating agreement, deeds, contracts for current businesses, previous offers on the property) and he keeps needing “just another 10k” to get everything started. This far he is in >60k before seeing any offer or buying any part of the business. And this was done without my mother in law’s knowledge. She knows now after the fact. He is wanting to invest another 150-200k to “get the financing” and start raking in the profits.

This deal is in Georgia and they are residents of Georgia.

Is there any recourse available to his children or wife to stop him from investing anything else in this?