Sateeq Founder Faces Allegations of Financial Impropriety Amid New Venture Plans: Moneycontrol Investigation
- 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
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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)
Great to see angels on grapevine 🙂
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.
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.
I'm one of the impacted 😁 No communication for a long time now. I wrote it off as a bad investment. Learnt my lesson
This seems like a targeted article. I've known Krishna through a couple of his investors for almost 2 years, and there have been no allegations of financial misconduct of any sort.
The article appears to state unchecked facts. For example, Altitude is not a new venture floated by Krishna but a product under the same entity that owned Sateeq.
I've known him personally for over 2 years. He shows no intent of financial misconduct, rather he is obsessed with building something for the Masses… Certainly not the conman some are portraying him as
P.S: I had personally invested with Sateeq, 3 Out of 5 Investments are active & performing well. Whereas I lost some amount in the Growpital Fiasco & GoldSetu shut down.
Dishonesty is a way of life in India. Honesty can help you start, but cheating helps you sustain. It's sad our country has fallen to this.
There were so many promos of Sateeq at one point of time. Never invested through Sateeq. Somehow, didn’t trust the face.
I got my money refunded a few months ago