10 years ago
5
Kickstarter fraud: Washington files first consumer protection lawsuit involving crowdfunding
If you raise money via Kickstarter and don’t deliver products you promised backers, the government will come after you. In what is the first consumer protection lawsuit involving crowdfunding, Washington State Attorney General Bob Ferguson today filed a suit against Ed Nash and his Nashville, Tenn.-based company, Altius Management.
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I don't understand why he didn't manufacture the product and make even more money. What's the point of running away with $25k? That will maybe get him through part / most of a year if he budgets correctly. Not really worth all the trouble he got himself in. Even if a lawsuit didn't happen, $25k is still not worth a lifetime of having a tainted name and constantly being bitched at.
This... $25k is like a year of life expenses. It's probably already all gone.
I bet he regrets it in the future.
This kind of stuff, along with the fact that companies can sell out (I'm pointing at you Oculus), is what has ruined the crowd funding concept for me.
Quit being a coward and pay back the money.