3 ms·

US regulators nab Kickstarter cheat

• sctb 11y ago
  https://news.ycombinator.com/item?id=9699721 https://news.ycombinator.com/item?id=9699721
• bdcravens 11y ago
  "The settlement bars Mr Chevalier from misrepresenting any crowdfunding campaign he is involved with and from withholding refunds. It also imposes a repayment order of $111,793.71 that has been suspended because Mr Chevalier does not have enough money to repay it." So basically, no punishment whatsoever. (I doubt there's any pending criminal charges)
• baldfat 11y ago
  > At the time he also pledged to refund backers If that wasn't said he would have been free as a bird.
  • fweespeech 11y ago
    Not nesc. if you fail to deliver and fail to spend money on developing the product, you'd still likely be screwed. However, if he spent $85k on himself [salary+expenses which were essentially just his money] and $35k on development, he'd have been fine.