AG makes crowdfunded company pay for shady deal

[6milPhil]

An interesting development I think.

SEATTLE — Attorney General Bob Ferguson today announced the successful conclusion of the first enforcement action in the nation against a crowdfunded project that didn’t follow through on its promise to backers.

King County Superior Court Commissioner Henry Judson ordered Edward J. Polchlopek III, otherwise known as Ed Nash, and his company, Altius Management, to pay $54,851 as a result of the 2012 “Asylum Playing Cards” Kickstarter campaign.

More:
http://www.atg.wa.gov/news/news-releases/ag-makes-crowdfunded-company-pay-shady-deal

[Lovejoy]

I'm not too sure why this happened... according to the comments on the KS page, people were actually receiving product, albeit horribly late.
I imagine a court order of that size will just sink the company and ensure no-one else gets their pledges.

[petercooman123]

"The court ordered a total of $668 in restitution for the 31 Washington state backers, $31,000 in civil penalties for violating the state Consumer Protection Act ($1,000 per violation), and $23,183 to cover the costs and fees involved in bringing the case. "


I think they would have been better off just paying back that 668$ 

[mweaver]

I have a couple of companies that owe me figs and aren't communicating... maybe they will be more forthcoming, now?

-Michael

[Cherno]

I think the first court decision was actually about the infamous "The Doom That Came To Atlantic City" kickstarter, a few months ago.