The FTC is investigating a crowdfunding campaign that disappeared with more than $700K

The Federal Trade Commission might have a renewed interest in justice for crowdfunding backers. Emails seen by The Verge show that the agency is investigating at least one crowdfunding campaign gone bad — the iBackPack — which raised more than $700,000 across both Indiegogo and Kickstarter.
The backpack’s creator, Doug Monahan, marketed the device as a Wi-Fi-enabled, battery-packed backpack that would power gadgets on the go and provide a local hot spot for wearers’ frie