Crowdfunders, the FTC is Watching You

Posted by sannwood under Startups
From http://smallbiztrends.com 3443 days ago
Made Hot by: NolanGreen on June 29, 2015 1:28 pm

The Federal Trade Commission has now taken legal action against a crowdfunder for failing to refund consumers their money and for using the funds on personal expenses. This is the FTC’s first case involving crowdfunding, and could signal a future where crowdfunding campaigners are held accountable for misusing funds.

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Comments

Written by lyceum
3439 days ago

I will never take side with the FTC. This kind of federal so called "trade" commission shouldn't exist at all, on a free market.

Scammers will be dealt by a legal entity called the court system.

One thing with a crowdfunding campaign is that if you back it, you can't be sure that you will receive a finished product. I am involved in 4 campaigns at the moment, and I look forward to see the "daylight" of the products! ;)

With that said, I have no clue if Erik Chevalier is a scammer or not... It is a bit ironic that the name of the board game is, The Doom That Came To Atlantic City!

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