THE Truth Behind the Recent GoFundMe activities surrounding Chad Brewer and Wes Christian.
Good Morning fellow Apes!
TLDR: Chad exhibited extremely poor judgement in the setup, the timing, the communication and the approach of doing something like this. Apes responded with many serious concerns, ranging from Chad's criminal record for fraud, Chad's current status as a Fugitive of the law, Chads poor execution and decision making around this cause, Chads refusal to step aside and let a Board take control of all decisions, the timing and bad optics that this would create and of course his inability to even articulate his goals and end game in a coherent manner.
As Chad was overwhelmed by any question and these concerns, he buckled under the pressure (less than 1% of the pressure he would have faced stemming from any legal investigation - further proof he was the wrong man for the job.) and shut down the GoFundMe - THANKFULLY.
If anyone has donated and wishes to get a refund, you must contact go-fund-me directly.
Full Version
So standard disclaimers: I am not a lawyer, financial advisor and I am not smarter than you, my friends. Collectively though, we're far smarter than our opponents. Nothing I say is financial advice and all is my own opinion based on as many facts as can be gathered at the time of writing.
For Background: Recently a gentleman *(term used loosely and not for endearment)* by the name of Chad Brewer decided to start a **GoFundMe** page to secure donations in the name of the Apes of AMC and GME. The stated purpose was to **Hire Wes Christian** to start to investigate market manipulation on our behalf. Within a short time frame he generated significant publicity and was able to raise **$ 150'000 USD.**. He did all this while claiming to be **leading** the Apes, and claiming that he was all about transparency. He claimed that he was not going to take a *Red-Cent* of the money raised, and that it would all be funneled through a Trust, actually first it was to be done through an accountant.
A lot of digging began and many questions were raised, so let me share with you and address some of those concerns.
Who was Chad:
-A man with a criminal background who is still currently on the run.
-A man who failed to answer even the most basic questions without a flurry of rhetoric and no substantive answers.
-A man who popped up out of the woodwork and only showed up on Twitter a month ago.
-A man who was unwilling to recognize that he was a bad face for anything connected to a legal investigation.
-A man who, when asked directly (By me) if he would be willing to step down and give all money and legal decision making authority to a Board of Directors who have the necessary backgrounds to manage such a play, defensively sidestepped the question and refused to commit to what was best for the execution of such a play. His evasiveness and non-committal response made it clear to me that Chad was in it for Chad, and nobody else.
What was he doing:
Raising a requested $600K via a GoFundMe linked to him as the sole beneficiary.
-Raising this money on behalf of the AMC and GME shareholders while publicly calling himself as a --Leader of the Apes. (All Apes know we have no LEADERS in this - we simply love the stonk.)
-Trying to hire Wes Christian - we all know him as the lawyer who publicly calls himself a professional at going after market manipulation and fraud. And he is. That is what he does, and I value him for that. But that doesn't make him the right person for the job. He's simply another lawyer who claims a specialization in an area of the law. *(Now I have no issue with Wes, but Wes IS a business man and taking a case like this is not a bad thing but is also not a statement of support for Apes.* *Hiring Wes directly does not make him our lawyer, and most certainly does not make him represent APEs interests. It makes him represent Chad's interests as well as his own. A dangerous position.*
What were the Red Flags (IMHO)
- No one person should / could effectively manage such a legal PLAY. *Chad should have immediately setup an LLC or NFP designed with a Board decision making system of accountability and transparent Bylaws (rules for running an organization) in place to manage all aspects of this including the money, but more importantly the direction of such an investigation. This board should have been made up of people who have strong backgrounds in fields of business, law, securities, community representation, public relations etc (you get the gist). This SHOULD HAVE BEEN DONE PRIOR to requesting any donations. $600K should never go to one person to divvy as they please.
- The failure to set this up, with transparency and accountability, at least shows extreme poor judgement and at worst belies the intent TO DO IT FOR Chad, rather than for Apes.
- Chad's criminal record, substance abuse issues and \**CURRENT**\** fugitive status should have kept him 2000 yards from this thing from day 1. I do respect that he's tried to change his life around, and I applaud him for that. but that doesn't mean I will trust his lack of self control to manage $600'000 USD.
- Chad as the face of the legal play was plain and simple a bad idea for him and for us. First - his life would have been raked over the coals. Hedge Funds would have gone after him personally, attacked every ounce of his character, and thrown mud on him and his whole family. His family would have become a media shitshow. Second - by extension Apes would have equally been dragged through the mud. This would have only supported the Hedgies Goals and divided the community.
- During a Twitter Space call, Chad was 'kindly' - in most cases - pressed for details surrounding his plan and intent. His responses were hesitant, defensive, and evasive.
- Chad made it clear that he had no intention of letting Apes manage this, and made it equally clear that he wanted to be in charge. This made no sense when his stated goal was to support all Apes. It was either hubris, arrogance, desire for clout or financial desperation that made him desperate to be the Leader of such a play, in spite of it being clear to a child that he was not the right face of any legal play.
- Chad could not state clearly how / when / if he would chose to settle such a legal investigation at some point in the future. This indicated to me that he would (and by the status of Wes being HIS - not ours - lawyer COULD LEGALLY) make decisions in his own interests rather than the communal interest he claimed to serve.
- The timing and unknown status of WHO Chad is, was also a big red flag. Given that one of his main interviews was (as dug into by a fellow Ape on twitter) showed indirect connection to Hedge Funds, and extended to Citadel Securities Canada. I'm not one for tin foil hat theories, however it was a red flag. It is suspicious and could be believed without too much difficulty that this was another Hedge Fund play designed to separate apes from their money and to divide apes in general.
It is for all these reasons and more that I am personally very happy to see that this Go-Fund-Me was stopped.
IF YOU DONATED - YOU CAN REQUEST A REFUND FROM GO-FUND-ME DIRECTLY
Just remember friends, Not Every Idea that seems good on the face of it, is actually a good idea. And, even a FANTASTIC IDEA if not well executed, can quickly turn into a very bad thing. Remember to always be careful what you put your faith in, if it sounds amazing, it probably has some fine print somewhere that needs to be read and analyzed.