Tagged: fraud

Attorney General: “Washington State Will Not Tolerate Crowdfunding Theft”

Asylum Cards Judgement

Back in May of 2014, Crowdfund Insider reported on the first state Attorney General to file suit against a rewards based crowdfunding campaign that had failed to deliver on its crowdfunding promise. This was no big, multi-million dollar crowdfunding project either. It was for a… Read More

Indiegogo’s Slava Rubin: “We Believe Everyone Deserves One Opportunity to See Whether or Not the World or the Crowd Wants to Fund Them”

Slava Rubin, Danae Ringelmann and Eric Schell

As more and more companies are turning to crowdfunding for extra funds, Indiegogo’s CEO Slava Rubin is encouraging everyone with a project idea to use the global platform. During a recent interview with MarketWatch, Rubin stated that he, along with the rest of the Indiegogo crew,… Read More

Brief: Big Data is China’s New Tool Against Illegal Fundraising

big data word cloud

China’s crowdfunding and peer-to-peer lending markets have frequently featured in the news, as China seeks to decrease fraud in its rapidly expanding Internet finance world. Now, Beijing’s financial supervision agencies are using big data to crack down on illegal fundraising, with an online pre-warning platform already… Read More

Gregg Mulholland, Previously Charged by SEC for Pump & Dump Scheme Involving Rudy Ruettiger, is Charged with Illegally Selling Penny Stock Shares

fraud

The SEC has charged Gregg R. Mulholland of secretly accumulating “at least” 84% of shares in Vision Plasma Systems.  Once Mulholland effectively controlled the company, he liquidated shares for proceeds of approximately $21 million.  The SEC states that no registration statement was filed on the… Read More

Fraudulent €7000 Pledge Ruins Kickstarter Success For Netherlands Video Game Dimension Drive

almostfundedkickstarter

Last month, Netherlands-based studio 2Awesome Studio took to famous crowdfunding platform Kickstarter with a mission to raise €30,000 for its new video game Dimension Drive.  The game was described as comic book-styled space adventure set in a multidimensional universe. It features a teleportation mechanic that allows you to fight on two… Read More

Indiegogo Pulls the Plug on Modular Android Smartphone Fonkraft Campaign After Authenticity Questions Surface

Fonkraft 4

New Australian-based modular Android smartphone Fonkraft seemed to have it all, it was perfect for the every day tech savvy person. Its “Pilot” model was an entry-level/basic and was priced at a reasonable $100. It features a 5-inch, 720p display, a dual-core processor and 1GB of RAM, plus… Read More

Agency 2.0 Shares All in Sondors eBike Crowdfunding Fraud Case

Storm eBikeCharged and ready

Agency 2.0, the jilted firm that made it possible for the Sondors eBike to become the 2nd most funded campaign ever on Indiegogo, has just distributed legal documents to the media that share insightful details into the unseemly battle with Ivars Sondors.  In a brief missive… Read More

Sondors eBike Crowdfunding Partner: ‘I Feel Like I Was Had’

Storm Sondors and Ben Batement

Indiegogo’s second most-funded campaign of all time has taken more twists and turns than one could imagine. From improbable crowdfunding mega-hit, delivered by a Californian surfer, to questions, controversy and accusations of contractual fraud.  Perhaps it is time for a touch of disbelief. The Storm eBike, quickly… Read More

Updated: Agency 2.0 Comments on Lawsuit Filed Against Sondors eBike, 2nd Largest Indiegogo Crowdfunding Campaign Ever

Sondors eBike Most Funded Indiegogo

Chris Olenik, founder of Agency 2.0 a well known marketing firm in the crowdfunding industry, has responded to the revelation that relationships have frayed between Storm Sondors and his firm. Agency 2.0 filed a “contractual fraud” lawsuit on April 9th and now Olenik has clarified… Read More

Lawsuit Filed by Agency 2.0 Against Sondors eBike Crowdfunding Campaign

storm sondors thumbs up

Second Most Funded Campaign on Indiegogo Hit with Legal Challenge of “Contractual Fraud”. Last week in the Superior Court of California in Santa Monica, Agency 2.0 filed a contractual fraud suit against Pacific Storm, Inc, apparently the corporate entity behind the Sondors eBike crowdfunding campaign.  The listed… Read More

Brief: FCA Calls on Individuals to Remain Vigilant Against Fraudsters as New Pension Options Loom

Stop-Fraud-600

There is always another fraudster hunting for a new method to separate investors from their hard earned money by offering bogus investment opportunities. With updates forthcoming for UK pension options, the FCA has called on individuals to be aware of opportunities that are probably too… Read More

Securities & Exchange Commission: Things to Look Out for in Spotting Internet Fraud

SEC Investor Advocates

The Securities and Exchange Commission has a pretty important, and at times overwhelming, task.  Regulating and enforcing the largest securities markets on the planet is a profound responsibility. The advent of the internet has added a new, and quite challenging, variable to the process as… Read More

Petition Organized by Backers of SOAP Vaporware to Get Colorado Attorney General to File Fraud Charges Against Creators

Colorado Attorney General Cynthia Coffman

It’s a Router. It’s a Android Tablet. It’s Home Automation. Its Soap! And its Vapor! Serial crowdfunding project SOAP may have another issue on its hands.  Backers of the ill-fated project have created a petition on Change.org to enlist the Colorado Attorney General Cynthia Coffman… Read More

Brief: Zopa System Stops “Sophisticated” Fraud Attempt

Stop Fraud

UK peer to peer lender Zopa recently incorporated an automated system to detect fraudulent attempts at accessing their lending system. As a growing number of consumers shift from traditional banks to borrowing online it is inevitable the fraudsters and crooks will attempt to stumble in…. Read More

Toronto Humane Society Reveals No Funds Have Been Received from Indiegogo Kitten Campaign

Pedro 1

Last month, a crowdfunding campaign surfaced on Indiegogo for a kitten by the name of Pedro. The kitten was less than 12 weeks old when he was thrown out the window of a vehicle near Canada’s Gardiner Expressway. Due to the impact, Pedro broke all… Read More

Crowdfunding Campaign Discovers Copied Project on Kickstarter While Raising Funds on Indiegogo & Fights Back

Stop-Fraud-600

This past November Dawn Sole was named one of South Florida’s winning startups by the South Florida Business Journal.  Pluck N’File was described as the “Swiss Army Knife of the tweezer world. The multifaceted tool launched a crowdfunding campaign on Indiegogo seeking to raise $25,000… Read More

The Collapse of Kreyos and How Not to Run a Crowdfunding Campaign

Train Wreck Demise Collapse Disaster

This one is almost too painful to write.  As many people know the Kreyos Smartwatch was one of the most successful Indiegogo crowdfunding campaigns of all time.  It is also probably one of the most spectacular crowdfunding failures ever.  Trust me – this one is… Read More

Radiate Athletics Raised Over $500,000 on Kickstarter in 2013. Over One Year Later Backer Rewards Remain Unfilled

Radiate Athletics Backers Hang Around

This is a story that happens way too frequently.  Cool concept captures wave of crowdfunding success, crushing funding goal only to experience repeated delivery delays as backers wait and grumble. Lacking options to get a refund on their contribution they gather on the campaign comment… Read More

Scam? SilverAlms Crowdfunding Site Blatantly Copies Campaigns

SilverAlms Question Heart

Possible Scam Crowdfunding Site Created to Dupe Unwitting Donors. SilverAlms a donation crowdfunding site claims to be the “Worlds First Charity Crowdfunding Portal”.  But is it really?  The site appears to be a clone of crowdfunding campaigns from other platforms such as Indiegogo and GoFundMe… Read More

iFind Supports Kickstarter’s Decision to Ban Their Crowdfunding Campaign

almostfundedkickstarter

iFind was running a highly successful crowdfunding campaign on Kickstarter when the ban hammer slammed down.  Multiple commenters on the crowdfunding campaign page questioned the technology behind the device described as the  “next generation item locating tag”.  As most in the crowdfunding industry know, finder /… Read More