May 6, 2019

The FTC has filed a complaint against a Texas man who raised more than $800,000 through four deceptive crowdfunding campaigns launched between 2015 and 2016. Douglas Monahan allegedly told consumers that contributions to Indiegogo and Kickstarter campaigns benefiting his company, iBackPack of Texas, LLC, would go toward developing, producing, and distributing various tech-enhanced products, including a power bank-equipped backpack and shoulder bag and a magnetic USB cable system. Instead, Monahan improperly spent the money on personal expenses and marketing efforts. Monahan’s fraudulent behavior was eventually reported by hundreds of disgruntled consumers. FTC

Tagged in: Misrepresentations,