[loumf]

I worked for a startup that engaged someone like this. Investors didn't like it. Luckily, the contract had an expiry date and an investor that liked us just waited.

They were basically useless in helping us get anywhere with funding. I don't know why the founders engaged them.

[chanachor]

I suppose they may have seen it as a viable option. It's tough to tell who is legit at times especially if they come recommended from someone you know (who also may not know the predatory behavior). Who knows? Some of these predator investors/consultants are just schmucks!