Action 9 Investigates Kickstarter Complaints,
Fred Leggett claims several companies he backed raised hundreds of thousands of dollars, then never delivered promised rewards.
Action 9's Todd Ulrich found getting help in cases like Leggett's is nearly impossible.
Leggett said he spent hundreds of dollars on Kickstarter campaigns he wanted to support. But he said he discovered crowdfunding is built on trust and that it can burn you.
“I feel like I've been scammed,” Leggett said.
He said he spotted a South Florida man who wanted to publish a lavish art book that he claimed would be a best seller.
Leggett contributed $52 and his reward would be one of the first books. The Kickstarter campaign raised $52,000 but then the founder disappeared.
“They fall off the face of the earth and they won't post anything,” he said.
The rise in crowdfunding scams has triggered online outrage.
The site Kickscammed claims investors have lost $2.5 million in recent bogus campaigns.
One company promised the smart watch of the future, but when tomorrow came, the company disappeared with the $1.5 million raised.
Like many victims, Leggett claims Kickstarter is not much help and said the Brooklyn-based company turns a deaf ear when investors who were scammed ask for help.
[read more here: http://www.wftv.com/news/news/action-9-investigates-crowdfunding-sites/nn3T9/ ]
ING Belgium offers fast track to crowdfunding for business clients
ING in Belgium is offering small businesses a fast-track procedure for raising funds on crowdfunding platforms Seedrs and KissKissBangBang. ING says the alliance will provide a valuable source of alternative financing for entrepreneurial clients with innovative ideas who may not qualify for a classic bank loan.
Under the fast track procedure, clients referred by ING are guaranteed a response within two days and if successful can upload their projects immediately.
Says Erik Van Den Eynden, head of midcorporates & institutionals ING Belgium: “In our efforts to help our customers keep a step ahead in their business, we are going further than traditional bankers. Our partnership with KissKissBankBank and Seedrs is an example. Our aim is to strengthen our customer’s project and to support them in the growth of their business. Our role is therefore much larger than that of your classic lender: we are a collaborative partner and advisor.”
[read more here: http://www.finextra.com/news/fullstory.aspx?newsitemid=27977]
Boy Blessed By Pope Gets $100,000 In Crowdfunding
The family of a suburban Philadelphia boy with cerebral palsy, famously blessed by Pope Francis upon his arrival to the City of Brotherly Love, has received nearly $100,000 in support through crowdfunding.
The Keating family, in need of a new van, was urged by relatives to set up a donation page following 10-year-old Michael's newfound fame.
Kristin Keating, who has undergone two hernia surgeries from lifting her 70-pound son, says she reluctantly agreed.
After word about the family spread, the donations climbed as high as $94,000 — including a $50,000 pledge from Hollywood director J.J. Abrams and his wife.
Abrams, the director of the upcoming Star Wars film, says he was moved by the Keating family's "grace, strength and commitment to each other."
[read more here: http://herald-review.com/news/boy-blessed-by-pope-gets-in-crowdfunding/article_ab1de5aa-c9e1-5a33-9f71-0fa6a84d9402.html]