Lawsuit against Skully co-founders claims brothers blew funding
A few days ago, Skully, a San Francisco-based startup with hopes of
building a digitally augmented motorcycle helmet, announced that it
would be shutting its doors.
The closure came a few weeks after Skully's board of directors forced
out Marcus and Mitch Willer, the brothers who co-founded the company,
reports TechCrunch.
Now, the brothers and their company are facing a lawsuit by the
brothers' assistant, Isabelle Faithauser, for using funding for personal
uses, reports BuzzFeed News.
Faithauser claims the Willers "used the corporate entities of Skully in
such a fraudulent manner as to render the corporate entity a sham." The
suit, which was filed last month, also states that the brothers demanded
Faithauser to participate in fraudulent bookkeeping procedures to
defraud investors. The fraudulent tactics were used to trick investors
into believing that the company was using funds for business purposes,
when it was actually being used on personal expenses.
According to the suit, some alleged personal expenses include: a Dodge
Viper, a second Dodge Viper (after the first one was involved in an
accident), a weekend Lamborghini rental, personal rent for the brothers'
apartment in San Francisco, four motorcycles, the brothers' restaurant
meals, weekly apartment cleanings, $2,000 at a strip club called "De Ja
Vu," $80,000 in cash to an unnamed co-founder (hidden as a trip to
China), and much more.
Skully raised approximately $2.5 million in crowdfunding through IndieGogo
– roughly 979 percent of the company's original goal of $250,000 – from
1,940 people. The money was supposed to be used on building helmets
with a heads-up display, but the company kept pushing back its release
date.
(AutoBlog.com)
No comments:
Post a Comment