Federal prosecutors have charged fintech founder Gokse Guven, a Forbes 30 Under 30 alum, with multiple counts of fraud connected to the fundraising and management of his startup, Kaldar. The case adds to a growing list of high-profile startup leaders facing scrutiny over investor disclosures.
Gokse Guven, founder and CEO of New York-based fintech startup Kaldar. (X/ @0xGokce)Here are 5 key facts of the allegation:
1. Who is Gokce Guven?Guven, 26, is a Turkish national and the founder and CEO of Kaldar, a New York-based fintech startup. He was named to Forbes’ 30 Under 30 list last year, citing Calder’s rapid growth and high-profile clients. As TechCrunch reports, the company was founded in 2022 and established itself as a platform that helps brands turn customer rewards programs into revenue streams.
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2. What is Kaldar and how does it work?Kalder marketed itself with the tagline “Turn your rewards into a revenue engine” and claimed it helped businesses monetize loyalty and rewards programs through loyalty partnerships. A previous report by Axios noted that the startup offers brands the ability to generate recurring revenue through partner sales. Kaldar claimed the backing of prominent venture capital firms and listed well-known firms as clients.
3. What are the charges?Guven is charged with securities fraud, wire fraud, visa fraud and aggravated identity theft, according to the US Department of Justice. Prosecutors allege that during Calder’s seed funding round in April 2024, he raised nearly $7 million from more than a dozen investors using misleading information about company performance and partnerships.
Also Read: Indian-origin woman featured in Forbes exposes shady startup stories of fraudulent ‘desi’ founders
4. What did the prosecutors say was misleading?The DOJ alleged that Calder’s pitch deck actively inflated the number of brands using its platform and falsely reported steady revenue growth. While Deck claims dozens of active and “freemium” partners, officials say many companies were only offered discounted pilot programs, or had no contracts with Calder. Prosecutors also alleged that the company’s recurring revenue figures were inflated, including claims that Calder’s annual recurring revenue reached $1.2 million by March 2024.
5. What else is there in the complaint?Federal authorities claim Guven maintained two sets of financial records: one accurate and one with figures shown to investors, according to the DOJ. He is also accused of using false statements and forged documents to obtain US visas reserved for persons of “extraordinary ability”. TechCrunch reports that Guven said he plans to issue a statement responding to the allegations.
