May 15, 2016 MLM & Affiliate Marketing News
In its first case involving crowdfunding, the Federal Trade Commission has taken legal action against the deceptive tactics of a project creator who raised money from consumers to produce a board game through a Kickstarter campaign, but instead used most of the funds on himself. The defendant has agreed to a settlement that prohibits him from deceptive representations related to any crowdfunding campaigns in the future and requires him to honor any stated refund policy.
Similar fraud “scampaigns” were unveiled after the fact on sites such as Kickscammed, Facebook’s GoFraudMe page, and Android Police:
While Leetha Kaye Slauson, the Iowa woman, was given five years’ probation, other penalties amount to little more than a slap on the wrist. Under the FTC settlement, Chevalier is prohibited from making misrepresentations about future crowdfunding projects, is barred from disclosing or benefiting from customers’ personal information, and was fined $111,793.71, which was suspended due to Chevalier’s inability to pay.
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