FTC sues entrepreneur who raised $800K for smart backpack – then used it to buy Bitcoin

FTC sues entrepreneur who raised $800K for smart backpack – then used it to buy Bitcoin
ôîòî ïîêàçàíî ñ : thenextweb.com

2019-5-7 16:19

Serial crowdfunder Douglas Monahan will face court, accused of misusing more than $800,000 raised for a hi-tech range of backpacks to buy Bitcoin and pay credit card debt. The US federal trade commission (FTC) also claims Monahan threatened hundreds of consumers to silence criticism.

He’s alleged to have told one investor he knew where they lived, while promising to sue to others for libel and slander. “Despite missing the delivery date for the iBackPack, Monahan started a second crowdfunding campaign in March 2016 via Kickstarter to produce and distribute the iBackPack 2. 0, an updated version of the still-unproduced original iBackPack,”…

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