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Everything Old Is New Again

Alexander Gomez isn't the first person to use crowdfunding to steal money, and he won't be the last.

May 11, 2016: Peachy Printer Collapses After Embezzlement of $320K Kickstarter Funds to Build Co-Founder’s New House

The last ditch plan for the company was to start selling retail units of the Peachy Printer before backers were able to get theirs, a wholly unpopular action that was certain to upset the campaign’s backers. According to Grayston, the plan was to sell retail units and begin sending out backer units as the money from the retail units started to come in. Sadly, the process of certifying the laser in the Peachy Printer cost more, and was taking longer, than anticipated, which resulted in the company going completely into the red.

December 6, 2019: Coolest Cooler

In April 2016, Grepper added an option to spend $97 in order to get expedited shipping on the backer's delayed coolers.

In December 2019, Grepper and Coolest LLC, announced they were ceasing operations and would be complying with the Oregon Department of Justice agreement. More than 20,000 backers who didn't receive a cooler were told they could claim $20 back, leaving them significantly out of pocket compared to the original purchase price of around $200.