“There was a time when a fool and his money were soon parted, but now it happens to everybody”. Yesterday GrindTV ran an article about more crowdfunding fraud. Investment without responsible independent financial oversight leads to disaster. That’s why the accounting profession exists.
Investors simply need a healthy dose of reality here. The most basic accounting and accountability procedures go a long way to boosting trust between crowdfunding project sponsors and investors. I have a blog devoted to such topics.
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