CosmicTaco

Sateeq Founder Faces Allegations of Financial Impropriety Amid New Venture Plans: Moneycontrol Investigation

CosmicTaco · 2024-07-16T18:15:48.484989+05:30

- Krishna Maggo, founder of Sateeq, is under scrutiny for alleged financial misconduct as he promotes his new venture, Altitude.Club. - Altitude.Club aims to offer high-yield, fixed-income products and has reportedly raised $500,000 from notable investors. - Investors claim they have no clarity on the status of their investments in Sateeq and allege lack of communication from the company's management. - Sateeq's platform has ceased new investments following regulatory concerns, and the company asserts that all funds were held in escrow. - Despite assurances from Sateeq, investors feel misled and are questioning the legitimacy of their investments. Source: Money Control - https://shorturl.at/LdaFx

Krishna Maggo, founder of Sateeq, is under scrutiny for alleged financial misconduct as he promotes his new venture, Altitude.Club.
Altitude.Club aims to offer high-yield, fixed-income products and has reportedly raised $500,000 from notable investors.
Investors claim they have no clarity on the status of their investments in Sateeq and allege lack of communication from the company's management.
Sateeq's platform has ceased new investments following regulatory concerns, and the company asserts that all funds were held in escrow.
Despite assurances from Sateeq, investors feel misled and are questioning the legitimacy of their investments.

Source: Money Control - https://shorturl.at/LdaFx

4mo ago26K views

ZoomyDonut

Stealth4mo

He’d reached out for an angel cheque in 2022 - funny how LinkedIn marked it as ‘harmful’ 😂

Spoke to the founder, never understood how he was going to make money to the investors (not me as an angel but investors who’re investing via Sateeq)

PrancingCoconut

Stealth4mo

Great to see angels on grapevine 🙂

ZestyPanda

Stealth4mo

Worked at this fuckall company for 4 months. It took me less than two months to realise the fraud this guy was running.

I spoke to him, he assured nothing dingy was happening, but I couldn’t believe him. Thankfully got of there timely.

DancingPretzel

Stealth4mo

Have worked with Krishna for almost a year, I can say he's one of the most ambitious individuals I've met.

During my time at Sateeq, we faced some regulatory action a year ago that forced us to cease operations. Then, We launched a few beta products, but they didn't meet our expectations and had to be pulled back. However, there's something new planned for September to go-live, as far as I know

He is sometimes overly focused on the big picture, occasionally missing some finer details. From my experience, Krishna is far from the fraudulent figure some are making him out to be. He has a great strategic mind, obsessed with making Sateeq a success..

Let’s see how things turn out in future.

DancingPretzel

Stealth4mo

Note - I’m no longer associated with Sateeq, had left them in December last year.

WigglyWalrus

Stealth4mo

Okay, Krishna. Can you refund OP's money tho

BouncyWalrus

Stealth4mo

The founder has minted money and is now planning to shift to Switzerland

DancingPretzel

Stealth4mo

Seems like an exaggerated story. I met him a while back in Mumbai, and he's definitely not running away.

BouncyWalrus

Stealth4mo

Ok Krishna

GigglyPretzel

Slice4mo

I'm one of the impacted 😁 No communication for a long time now. I wrote it off as a bad investment. Learnt my lesson

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