Advisors · Crowdfunding

How to warn startup community of fraudulent entity?

Anonymous

July 12th, 2017

I recently hosted a campaign on a new crowdfunding platform. The platform is geared toward first-time entrepreneurs and is partnering with major universities. The founders of the platform misrepresented a number of things that I believe constitute borderline fraud. I'd normally just move on from situations like this, but it really bothers me that the founders might continue to misrepresent themselves to students. What should I do?

Dare John Adesanya Cofounder & CTO @ INNAWAY, Founder & CEO @ Cedarsoft Integrated Services

Last updated on July 13th, 2017

You've got to find a way to explain about the pros and cons of startup. Followed by a detailed explanation on what the borderline is. Don't shy away from this because you've been considered a mentor, I suppose.


Peradventure, a lot of this first-time entrepreneur do think "hacking a system" means to be fraudulent in whatsoever business line they are, in order to achieve their goals. Therefore, try to give a very comprehensive explanation on what "hacking a system" really means.

Anonymous Founder and CEO of tech startup.

July 12th, 2017

What wa the name of the platform? Let us know so we dont get caught up in it. Thanks for the warning.

Zipr Shift Paradigm shift

July 12th, 2017

Just tell the story.

When speculative bad things affect a great deal of people then it's best to know about them sooner than later.


The reason fraud and corruption doesn't go away is that people with moral backbone don't have the courage to speak.

Leonie Djoyi Software Eng.Student, Researcher, Creative Thoughts, Typist and Remote Personal Assistant

July 12th, 2017

Since it was a gathering of entrepreneurs in the university, the best you can do is broadcast a scheduled meeting for all entrepreneurs on campus for a month and you would need to create more awareness for the meeting to be known and turn up to be encouraging, then you talk to them about the things and signs they should look for to prevent being defrauded

Valentine Ike Oleka Cofounder & CEO of Factory Technologies Inc

July 13th, 2017

Medium is a good platform to tell the story. Don't forget to add pictures and tweet the link to the medium publication when you are done.

But before doing any of that, please make sure you already spoke to the company about what you noticed and they are unwilling to move their position. It may actually be a careless mistake from an intern or something.

If they shove it to the side and don't take immediate action, please warn us right away.