Skully Founders Used Campaign Raised Money On Strip Clubs And Sports Car Says Lawsuit
Shocking News for the Startup Ecosystem!
What happened to the startup?
Just a day or two before, the news of US- based startup Skully went bankrupt was published on our website. The reason was a lack of funds and inability to raise new capital. The startup was about to produce world’s smartest helmet with 1800 Blind spot Camera for commuters safety. A Recent lawsuit claims that the company founders; Marcus and Mitchell Weller have utilized all the campaign raised funds from Indiegogo for luxuriant lifestyles. The lawsuit is filed by former employee Isabelle Faithhauer in San Francisco.
Where did they spend all the money?
It is reported that the money was spent on sports cars like Lamborghini, Audi R8, Dodge Vipers and motorbikes. They also used the money for apartments that were used by Wellers in Bay Area. Faithhauer was made to compile the apartment under corporate housing. Moreover, they used the funds for their Bermuda and Hawaii trips where they went to strip clubs and paid for housekeeping services using company’s credit card.
What does Isabelle Faithhauer say?
Isabelle says that the Wellers asked her to fabricate books to clear the expenses. When the accounts team started questioning; she was crystal clear about what’s have been happening. She was fired after returning from her pre-approved vacation to Disneyland 2015.They offered her severance package that she didn’t accept and was never paid her for over time.
Skully hasn’t responded to any of the charges yet.
What is the real reason behind Skully’s shutdown? Do share your thoughts in our comments section below.
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