Crowdfunding Has Its Bad Apples

Proving that crowdfunding is a worldwide phenomena is this article from the Malaysian website that bemoans how crowdfunding is becoming an arena for scoundrels.

Abuses include begging for money to buy booze, sneakers and breast implants. Other problems include outright scams and funders who don’t deliver as promised.

No portal polices their funders and most enforce their terms of service only when they get complaints. If you need to check on a crowdfunder go to Kickscammed .
http://www.therakyatpost.com/business/2016/03/26/crowdfunding-abuse-soars-as-many-simply-lazy-to-work-for-money/

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, fine, fraud, Funding Portals, Investments, Jobs, Legislative Intent, Small Business, technology, unfair and deceptive practice, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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