In April 2016, eZelleron, a German startup, filed for bankruptcy protection (see H2-international, August 2016). Now, its former CEO, Sascha Kühn, was charged with violating accounting principles, committing fraud and deepening the company’s insolvency, the Dresdner Neueste Nachrichten newspaper has reported. Kühn left Germany for the United States to head kraftwerk Inc. and eZelleron Inc. based in Silicon Valley. He is alleged to have filed balance sheets too late and not petitioned the court for bankruptcy protection in due time, despite knowing about the impending liquidity shortage because of his position in the company. The prosecution further claimed that he had put intellectual property in the hands of his parents. Kühn disagreed, saying that those patents had only been used as collateral, but that they were still owned by the German business.
Kühn also said that he had reached an agreement with the trustee. Whether the many customers who crowdfunded the startup will ever get their chargers is anyone’s guess at this point. Kühn told the Bild, another German newspaper, that the devices “will definitely be put on the market, but there is no set timetable for their launch. First, we will need to find new investors.”
I still wonder, how it could be, that so many people believed in the nonsensical promises of Mr. K. for such a long time.
That they were willing to pay their own money on that bet speaks not really for their foresight.
Now I also wonder, which next hype will again be followed by too many.
Although the one and only way is clear, which we all eventually have to go.
Just listen to my words since 1995. Or read them.
Thanks.
https://www.youtube.com/watch?time_continue=2&v=SNIa6MQYLfs
Dear Arno A. Evers, it is normal that you take a risk in investing on a platform like KickStarter or IndieGoGo but that these platforms just transfers large sums of backers money without any garantees or product plan from the projectteams, is for me a riddle.
I will never invest anything on kickstarter or IndieGoGo anymore just because these platforms are nothing more then only facilitating a bulletin board for the projects.
So as long as I don’t see any garantees from either of these platforms or the projectteams products, I think crowd funding will be less and less popular.
This has nothing to do with a hype or whatever just a platform taking the correct responsibilities for their backers.
yes, that`s true in Theory, thanks, Chris;
but has not much to do with criminal intentions by the initiators who are using such money collection tools for their own benefit(s).