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Peachy Printer Funds Embezzled To Build New Home Instead of $100 3D Printer (hackaday.com)
Reader szczys writes (edited): Peachy Printer made it big on Kickstarter, raising over half a million dollars on the promise to build the first 3D printer and scanner costing $100. The company has now collapsed due to embezzlement (Editor's note: BBC's coverage is better) of those funds. The original investor stole around $350,000 of backer's money and funneled it into a new home. This was discovered about 18 months ago but became public only now as the company is unable to meet their already delayed delivery dates. Peachy Printer has posted a video admitting the screw-up. Sounds familiar?
Well, a significant difference between this situation and the iFind is that the Peachy Printer actually works. It even works well, compared to the $800+ solidoodle at our hackerspace. It was working well enough to clean up the design and start shipping kits back in January 2015. Sadly, that also coincided with discovering the money reserved for actually making the printers was held up as collateral for David's house. (which turned out to not be the truth anyway) David kept stringing us along for a while, while Rylan explored other ways to raise some money to ship. And, if you've watched the videos and read the website you know the rest.