Home | Blog | Software | Reviews and Features | Forum | Help | Donate | About us
topbanner_forum
  *

avatar image

Welcome, Guest. Please login or register.
Did you miss your activation email?

Login with username, password and session length
  • September 29, 2016, 03:30:29 AM
  • Proudly celebrating 10 years online.
  • Donate now to become a lifetime supporting member of the site and get a non-expiring license key for all of our programs.
  • donate

Author Topic: The FTC flexes its muscles against a Kickstarter campaign  (Read 460 times)

wraith808

  • Supporting Member
  • Joined in 2006
  • **
  • Posts: 8,275
  • "In my dreams, I always do it right."
    • View Profile
    • Donate to Member
The FTC flexes its muscles against a Kickstarter campaign
« on: June 12, 2015, 01:13:08 PM »
FTC Fines Kickstarter Campaign Creator Who “Used Most of the Funds on Himself” (via Slate)

From the looks of things, it's mostly for show, i.e. "On Thursday the FTC released its findings in that case, explaining in a press release that Chevalier had “used most of the funds on himself.” The settlement imposes a $111,000 judgment against Chevalier—presumably the funds raised by the project, less Kickstarter’s own cut and its substantial processing fees—though the FTC notes that this penalty “will be suspended due to Chevalier’s inability to pay.”"

But I wonder if this was more exploratory and precedent setting for folding crowdfunding under their aegis more firmly?

Nothing for the backers, but "you pay the game you take your lumps" has always been my approach to getting involved with kickstarters.