Complaint Review: COMPCOIN CMP

Compcoin raised over $45 Million dollars through an ICO. Investors paid $15 per CMP at time of ICO. I personally invested ~$3000 at ICO and watched as the coin dropped in value to under $1. I have found on some web forums that Compcoin claims they had a hack and forked the coin.

No one has had access to their investments for six months. Compcoin has had their cryptocurrency removed from exchanges due to "high risk involved in the project". Compcoin has gone completely AWOL. Phone calls and emails are ignored. At this point no one knows where there money has gone and if we will ever get it back. To reiterate, the ~$3000 I invested has been withheld from for six months with no option to get any portion of that money or token equivalent back. 

Please do not purchase this coin if it is offered privately. Web forums show that the company is trying to scam investors with leftover ICO coins.

CEO Alan Freidland has a shady past with scams and has been accused by Jeb Bush of all people:

"The attorney also brought up specific complaints against Alan Friedland and his computer company, First Wave Networks Inc. The company is accused of overcharging Cyber High for laptop computers and of improperly profiting from the school's public funding through "insider transactions."

Hartley said Cyber High's financial problems were the result of "improper things going on with public money."

Charter schools are run by private groups but cannot operate without a contract from the School Board because they receive tax dollars.

John Benford, Cyber High's attorney, tried to convince state officials that the school's shortage of funds was the district's fault. He said the board overcharged Cyber High for bus service. When the school refused to pay, Benford said, the district illegally withheld the school's money throughout the year.

The governor did not buy it. "Why would you start a school without knowing how much you were being charged for transportation?" Bush said.

Cyber High officials said the district wanted to charge the school $265,000 for transportation but that they agreed to pay only $81,000 for the school year.

"Not in the contract," Bush answered sharply."

-http://articles.orlandosentinel.com/2002-08-14/news/0208140138_1_cyber-high-charter-schools-friedland