What happened to the
The Billetus wallet is a simple money clip I first discovered back in 2015. Like many ‘what happened to’ articles I write here the Billetus has no happy ending. If you’re here looking for the Billetus then look elsewhere – it was a scam. The company itself stopped trading in 2017 and since then their website and social media has gone silent. So what happened to the Billetus Wallet, why did it fail, and what’s the story behind its founder Dennis K.
Billetus first came to be with its successful Kickstarter campaign for their Billetus Maximus Wallet. Having raised over $60,000 and with an already established brand, you’d think Billetus would be in a great situation financially and from a brand perspective. But that’s where things go bad. After raising its funds Billetus go quite updating his backers in January 2017 where they state ‘more information is coming soon’ – this update never happened.
The Story of Billetus…
Dennis K, the creator of the Billetus brand, has bitten off more than he could chew with the Billetus Wallet. Information on Dennis isn’t readily available but a single comment on Billetus’ Kickstarter page might enlighten us to what might have happened to the wallet and Dennis.
A comment from Theo on Kickstarter states Dennis never had any intention of producing the Billetus wallet after he gravely overestimated the costs of production meaning the wallet could never be profitable especially since the money needed to get the project off the ground greatly exceeded the raised $60,000. This information was supposedly gathered from a local in the area where Dennis lives.
From here Dennis sought legal advice for where to go from here. The story goes, his lawyer suggested that the best course of action would be to ignore the pledge to backers on Kickstarter and delay for as long as possible – which would end up being indefinite. The hopes would be nobody would forget about the wallet, or so much time would pass people wouldn’t care.
This is where his Billetus Carbon Clip first made its appearance. Made from much cheaper material and without the need for heavy machinery Dennis was still able to piggyback on the success of his campaign to sell his latest wallet. The money clip wasn’t bad and had a unique design much like the Maximus itself. But this is beside the point.
4 Years Later…
All this was written over 4 years ago now and little is known as to any lawsuits against Dennis. All we know is Dennis has supposedly filled for bankrupts within the state of California. This information is probably available online but difficult to find. Dennis himself is still active on social media and hasn’t seemed to ‘disappear’ with these social profiles still plastered all over the internet and even the Billetus’ Facebook page (which is surprisingly still live).
He now tries to sell himself as a ‘business consultant’ using the success of his Kickstarter Campaign to lure in unsuspecting clients. A fluttering of advertising across the web shows Dennis trying to sell himself as a business success story but is little more than a con man and coward for the handling of his own Kickstarter success.
If there’s one problem I’ve found with crowdfunding sites it’s the likes of Belletus. With little protection for backers on platforms like Kickstarter or IndieGoGo, it would be down to the individual to sue on grounds of fraud and theft. After all, Kickstarter will take it to a commission regardless of whether the campaign succeeds or fails to give them real little incentive to do – well anything.
This isn’t the first time I’ve written about Kickstarter Scam stories in the world industry. The likes of Spend Wallet & Volterman. My only suggestion would be to always be aware that Kickstarter campaigns can always end in disappointment as they so often do. Always be prepared to lose your money and always do your own due diligence.