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Snopes on the verge of financial collapse as owner accused of fraud, using company money to buy prostitutes

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Snopes, the liberal news checker, is reportedly on the verge of financial collapse brought on by a bitter legal battle between its owners, one of which is accused of embezzling company funds and spending the cash on prostitutes and other personal expenses.

 

Things have gotten so bad for Snopes that the company has taken to begging for money on GoFundMe.

 

The official reason given by the company for the GoFundMe campaign is an alleged dispute between “an outside vendor” which “continues to essentially hold the Snopes.com website hostage” by withholding ad revenue.

“But DailyMail.com can disclose significant facts which are entirely missing from the fact-checking website’s version of events,” The Daily Mail reports.

The outlet goes on to report that allegations first made against Snopes co-founder David Mikkelson by co-founder Barbara, his ex-wife, have now been repeated by said “outside vendor.”

That “outside vendor” is Proper Media, which purchased 50% of the company that owns Snopes last year according to The Daily Mail.

Proper Media has filed a suit against Mikkelson stating that over the past year, he has, “engaged in a lengthy scheme of concealment and subterfuge to gain control of the company and to drain its profits.”

The suit claims that “Mikkelson was unhappy that Barbara maintained ownership of half of what he always considered to be his company after the divorce.”

“Thus, after Proper Media’s purchase of Barbara’s share, Mikkelson sought to finally gain control of Bardev [the company Barbara and Mikkelson founded which owned Snopes] by aligning and conspiring with [Proper Media member Vincent] Green.”

Of course, as mentioned previously, none of this is mentioned on the GoFundMe page set up by Snopes (the Mikkelson-led half, anyway) last week.

The campaign has raised in excess of $500,000.

Sources:
Poynter
GoFundMe, Snopes
The Daily Mail

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