Unintended Consequences of A Successful Crowdfunding Campaign

If Google translate is correct, Emma Post has/had (?) terminal cancer and, since she thought that there were too many campaigns for illnesses, she crowdfunded to pay for her funeral.

The campaign was “oversubscribed” and raised a significant amount more than the target, which was apparently put into a foundation.

Now Ms. Post wants to use the money to travel to the US for treatment and for living expenses, but the rules of the foundation won’t allow her to take the funds for that purpose.

Thus, “Post thinks otherwise and has taken a lawyer, a lawsuit may follow…”
http://www.ad.nl/utrecht/terminale-emma-wil-zelf-beschikken-over-geld-uit-crowdfunding~a129a732/

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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 balance, Charity, checkbook, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, Funding Portals, Investments, Legislative Intent, SEC and tagged , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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