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Another one bites the dust!

IMO, Non sophisticated fraud.

Former Mooofarm Employees allege that the company's founders ignored widespread sales misreporting and misled investors with projections

https://inc42.com/features/accel-aavishkaar-mooofarm-dairy-tech-promise-soured-allegations/

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satan

Stealth

7 months ago

Mind writting few words or TLDR on body, apart from attaching the links yk. IT’S THE LAW. Helps lazies like us!
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VioletMovie

Accenture

7 months ago

TLDR Raised money, siphoned it for personal use. Faked revenue. CEO removed. Replaced w/ another founder.
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EarthDragon

Stealth

7 months ago

This is so true. The personal expenses for founders from investor funds is “privilege” misused by most and then say “we only draw 1L salary” 🥲
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MuchosGracias

Stealth

7 months ago

Sometimes I wonder what these bright minds at Accel (and other investment firms) are smoking when they invest in an app that makes a marketplace for cattle ( I’m not joking that’s what Mooofarm does) I want any one of these investment bankers to actually try selling a cow before they pump 15M dollars into an amazingly stupid idea like this
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DaringTrain

Stealth

7 months ago

They are selling the India dream to their investors for 20 years without fail. I am sure they can even seek gaumutr to cows
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MightyLazyGeekStar

Stealth

7 months ago

Quick buck schemes
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Indusplateau

Stealth

7 months ago

We should all label these types of fraud as ashneer fraud.
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Gambler1

Crypto

7 months ago

cane here to say meow ikyk
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random_tom

Startup

7 months ago

That why they were hiring interns of backend role paying 15k
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Qwerty2398

Stealth

7 months ago

How many people remember the glowing story of the same company by inc42?.. the article went on about how they are going to change the world of animal husbandry. This is why I don't trust any glowing article written. Nothing is true untill it happens
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Bikkgyahaicorporate

BYJU'S

7 months ago

Even after all this, 1. The CEO was saying that we’ve raised the bridge round and we’ll come out of this. 2. Hiring people for leadership roles when they didn’t have money to pay to the current employees. Is there nothing the employees of this startup can do against these fraud founders? Any action that we can take against them? They have literally played with the lives of the people and their families and they’ll probably walk away with the looted money without any repercussions. Ps. I was with them for 7 months and haven’t received my salary for the last 4 months now.
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