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Drone project on Kickstarter goes bankrupt

On Behalf of | Dec 11, 2015 | White Collar Crimes |

Kickstarter is a popular crowd-funding site where people can pay money to fund a project, with the promise of getting products in the future. Now, it is at the heart of a controversy after one of the projects went bankrupt.

The project was run by a company called Zano. It said that it would make tiny drones, equipped with cameras, which fit in the palm of a person’s hand. The drones were so popular that the company raised more than $3.5 million. There were an astounding 12,000 backers.

As a result, the company said it would send out around 15,000 nano drones to those backers. It sent out a mere 600 before folding.

Kickstarter has now decided to investigate the bankruptcy to see why and how it happened. They have hired investigators to look into everything and expose the company, as there is plenty of speculation that it was little more than a scam—that the owners of the company just decided to pocket the $3.5 million and then shut things down.

The investigation will not just focus on that speculation, however, as the company may have simply made mistakes that led to bankruptcy, as happens to companies across the United States every single year. The investigation can be used, according to Kickstarter, so that other campaigns don’t make the same mistakes in the future.

Experts do warn that the backers will not get their money back, in all likelihood, no matter what happens with the investigation.

Those who have been accused of running scams and committing white collar crime in Maryland have the right to a fair trial.

Source: Techspot, “Kickstarter hires investigative journalist to look into Zano’s failed drone project,” Shawn Knight, Dec. 11, 2015

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