According to the post below, the investors in New York produced only 1/3 of the funding agreed to, took 40% of the business, then told the founders that they would charge them 4% interest if they wanted more, these “investors” even wanted to draw salary for themselves and were signing contracts for the business without the founders’ knowledge. It would be **really** good to know who such people are to avoid them at ALL costs.
Questions
Who are the 2 investors who ripped off NY founders?
7 answers from the community
A· Dec 6, 2014
These guys weren't tech investors.
If SA reported in every single scammer it would fill a million posts.
A· Dec 6, 2014
ha ha...good point
A· Dec 6, 2014
Is keeping control of your business after big investment actually possible at all? It always comes with a change, no?
A· Dec 7, 2014
Lol if you want to get connected to solid investors, just email or tweet Jason Calacanis. That guy is legit one of the best blokes in the startup world.
A· Dec 7, 2014
Many more than two, "raptor investors" many are part of the 1 in 25 who are sociopaths. Torturing humans when they run out of kittens. @kaffegeek
A· Dec 9, 2014
I've personally advised a company who (before I started advising them) got scammed out of New York: basically a guy who said he was an accredited investor, listened to the pitch and asked lots of questions, then later on (after seed round closed without his participation) sued saying he owned the idea behind the company but would settle for 20% or $250K.
This person has done this before.
Moral of story: just because a potential investor wants to talk to you, doesn't mean you shouldn't be checking them out too.
A· Dec 9, 2014
His name?