Crowdfunder Sued for Misappropriating Funds over $800,000 to Buy Bitcoin

Backpack Filled with Bitcoins

The U.S. Federal Trade Commission (FTC) recently filed a lawsuit against a crowdfunder who diverted customers’ funds to purchase bitcoin. According to The Next Web, the entrepreneur raised funds over $800,000 to buy iBackPacks but instead diverted the funds to personal use such as buying crypto and paying off credit cards debts. iBackPack for Bitcoin Douglas Monahan,

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Source: BTC Manager