Khaleej Times reported how MAXION’s founder came close to losing $250,000 to an investment scam run out of Europe.
A group claiming to represent a wealthy backer offered $1.75 million at a $10 million valuation, then asked for a $300,000 commission — negotiated down to $250,000 — and insisted the company buy $250,000 in cryptocurrency before the money would move. The team flew to Barcelona and spent $12,000 on travel before the story came apart.
What they found instead were fake passports, fake names, fake companies and existing scam reports. The deal was abandoned, reports were filed with European authorities, and MAXION went on to raise its seed round through legitimate channels.
