New Crowdfunding Disease

OMG, that poor person has #*%^& disease, let’s donate to her crowdfunding page.

But wait, that poor person may be a faker. Taryn Harper Wright, a self proclaimed “hoax hunter,” has exposed “17 cases of suspected illness fraud in the last 3 years, part of the soaring Internet crime rate that the FBI says costs consumers $800 million a year.”

Although some are just fraudsters, the psychological community is now finding a new mental illness called “Munchausen by Internet” where people claim false or exaggerate illnesses “because they like the emotional gratification they get from having people pay attention to them” and hey, the money ain’t bad either.

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:
This entry was posted in accredited investor, balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fraud, Funding Portals, Investments, Jobs, Legislative Intent, review, SEC, technology and tagged , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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