Kickstarter funds for cheap 3D printer spent on co-founder's house

David Boe's confession video has hit the internet...

Kickstarter funds for cheap 3D printer spent on co-founder's house

via kickstarter.com

Crowdfunding website Kickstarter and the Canadian police are investigating claims that funds raised online for a 3D printer tech project were poured into the construction of a house.

Back in 2013, Rinnovated Design was promising to build the first 3D printer and scanner to cost $100USD. Now one of the co-founders of the 'Peachy Printer' start-up has accused his partner of stealing over CA$324,000 to fund his new home.

Ryan Grayston, who oversaw product development, is claiming that the CA$651,091 raised from 4,420 backers was put into the personal account of David Boe, who was in charge of business administration & financial management.

Grayston said Boe "came clean" that he had been using the fund to aid the construction of his house in 2014 and agreed to repay the sum. A confessional video was made, but neither the situation nor the tape became public until now.

Grayston has published a lengthy statement on the company website, stating that Boe has failed with his repayments:

"He claims to have spent the Kickstarter funds on materials for his house, but he hadn't gotten the construction far enough to get that value back out through his mortgage draws.

"As stated in the repayment agreement, the plan was that as David reached each stage of his build, he would payout a percentage [of] the draw to Peachy Printer.

"David made good on the first payment, and defaulted on the final two.

"The last of these payments was on March 2nd 2015, after which I was unable to contact him for months. When I finally did speak to him, I found that he had gotten a lawyer and quite drastically changed his tone".

Grayston says he notified the police in October 2015.

Boe's apparent confessional is also online...


Kickstarter spokesperson David Gallagher told the BBC:

"Anyone who abuses our system and the trust of our community exposes themselves to legal action.

"We're reaching out to the law enforcement officials who are already looking into this case, and will assist however we can."

The police investigation is at an early stage, while the development of the Peachy Printer has, inevitably collapsed.

In a blog post today, Grayston said that he is unable to offer refunds.

He wrote:

"Up until recently I have always given refunds to those who ask. I can no longer do so because I have no more money. As much as I’d like to say yes, I simply don't have the ability to refund you.".