FTC sues entrepreneur who raised $800K for smart backpack – then used it to buy Bitcoin26

Serial crowdfunder Douglas Monahan will face court, accused of misusing more than $800,000 raised for a hi-tech range of backpacks to buy Bitcoin and pay credit card debt. The US federal trade commission (FTC) also claims Monahan threatened hundreds of consumers to silence criticism. He’s alleged to have told one investor he knew where they lived, while promising to sue to others for libel and sla...

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