FTC Says You Should Get What You Paid For On Kickstarter
The FTC settled a case Thursday involving a man on Kickstarter who used backers' money for personal expenses instead of the product he promised.By Ben Lawson | June 11, 2015
There seems to be no end to the unique and creative projects coming through Kickstarter, from Cards Against Humanity to the Oculus Rift. Although more than $1 billion was raised on the site last year alone, crowdfunding is still pretty new.
Thursday, the Federal Trade Commission waded into its first case involving what happens when a business fails to deliver a product or when backers' money is spent on things that have nothing to do with what they put cash down for.
The FTC had charged Erik Chevalier, whose Kickstarter board game "The Doom That Came to Atlantic City" was canceled 14 months after tallying up about $122,000 from over 1,200 backers.