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While not precisely MMO or RPG related, mismanagement of funds raised through crowd-sourcing is a hot topic. In one of the more inglorious tales of epic malfeasance, Ant Simulator is now dead in the water due to two of three company founders using money raised for restaurants, alcohol and exotic dancers. As a result  of the loss of funds, company president Eric Tereshinski has resigned.

The developer and founder of ETeeski, Eric Tereshinski announced that the project is officially dead and that he resigns from the company. The guys that he partnered with in the LLC managed to burn through all the money they had, including the funds from the crowdfunding campaign.

You can read this sad story of loss over at Softpedia and check out the video where Tereshinski explains what happened below.

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Suzie Ford / Suzie is the Associate Editor and News Manager at Follow her on Twitter @MMORPGMom
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