As you've probably heard, AroLucha launched a crowd-funding campaign based on the idea that wrestling fans could become investors in a wrestling company. Several days into the launch - with total funds invested sitting at only a couple thousand dollars - an investment suddenly came in for $50,000. Given that the minimum total campaign investment required to cash out the money is $50,000, that sudden, large donation appeared suspicious.
We asked AroLucha CEO Jason Brown - who to his credit, has been consistently answering questions as part of a Q&A on AroLucha's WeFunder site - this question yesterday, April 5:
"I guess I'll ask a straight up question - you guys were only at a couple thousand dollars several days into this campaign, when suddenly one $50k investment came in. The minimum required to cash out the money is $50k. That investment clearly came from ownership correct?"
Almost immediately, Brown responded:
"... great question and appreciate your directness. First off, per the SEC if that investment came from ownership, we would, by law, have to disclose it. So, to answer your question - No it did not come from ownership. Rather, the investment came from a wealthy, accredited investor (that I know), who believed enough in the project, the target market, the business model, the talent involved like Rey Mysterio & Konnan, our team, and what we have accomplished so far, to invest a large sum of money (to you and I perhaps, but to him maybe not so much) into our project and purchase the exact same stock as our other investors through this platform."
Form your own conclusions. I will share my opinion on the matter on The List & Ya Boy! wrestling podcast next Wednesday at 3PM EST.
