Forbes 30 Under 30-alum charged with defrauding investors, identity theft
What's the story
Gokce Guven, a Turkish national and the founder of fintech start-up Kalder, has been charged with securities fraud, wire fraud, visa fraud, as well as aggravated identity theft. The New York-based company helps businesses create and monetize personalized rewards programs. Guven was featured in last year's Forbes 30 Under 30 list for her innovative work in the fintech space.
Company profile
Kalder's business model and notable clients
Founded in 2022, Kalder operates under the tagline "Turn Your Rewards into [a] Revenue Engine." The company offers participating companies a way to generate recurring revenue streams through partner affiliate sales. Notable clients of Kalder include Godiva, a major chocolatier, and the International Air Transport Association (IATA), which represents most of the world's airlines.
Fraud charges
Misleading investors and inflated claims
The US Department of Justice (DOJ) alleges that during Kalder's seed round in April 2024, Guven raised $7 million from over a dozen investors by presenting a pitch deck filled with false information. The pitch deck falsely claimed that there were 26 brands "using Kalder" and another 53 brands in "live freemium." However, officials say many of these companies had only been offered heavily discounted pilot programs or had no agreement with Kalder at all.
Misrepresentation
Maintaining dual sets of financial books
The DOJ also accuses Guven of maintaining two sets of financial books: one with "false and inflated numbers" for investors, and another with accurate information prepared by Kalder's outside accounting firm. This was done to hide the "true financial condition of the company." Additionally, it is alleged that Guven used lies about Kalder and forged documents to obtain an O-1A visa, reserved for those with extraordinary ability in their field.