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Like many crowdfunders before him, the founder of the sub-$100 3D printer Peachy completely misjudged the delivery estimate he promised to the 5,000+ backers who pledged a total of $651,091 *CAD to his Kickstarter project in 2013.
In the 60+ backer updates that followed, Peachy CEO Rylan Grayston seemed to be 100% transparent about the cause of the delays, but in a bizarre turn revealed in an even more bizarre video, Grayston stated the real issue plaguing his company was the fact that his co-creator embezzled more than $320,000 CAD to build a new house.
*Canadian dollars
– Thomas Schroder, Krowdfund.com