Oscar Garcia says his COO Frank DiCrisi orchestrated the collapse of Batched, his fintech company that froze investor withdrawals in late 2022.

Garcia made the accusation during a webinar on February 10th with roughly 150 investors listening. The Batched founder walked through what he says triggered the company's downfall, painting himself as an unwitting victim kept in the dark by his partner.

The problem began when Garcia was hospitalized for a burst appendix in October 2022. While he recovered, someone sold Batched to Savvy Wallet—a company DiCrisi owns. Garcia claims he didn't authorize or even know about the sale until much later.

"I put my personal money into building this company," Garcia told investors. "I brought friends and family to invest. Some of you guys did. My brothers-in-law invested. They're pretty much pissed because over the last couple of days I told them what was going on."

The sale itself wasn't the only problem. Legal filings suggest DiCrisi mixed Batched investor funds with The Traders Domain, another collapsed investment vehicle. Garcia discovered irregularities in November and says he confronted his partner for the first time.

Garcia traces Batched's actual failure to chronic accounting errors, which he says DiCrisi's administration failed to fix. The CEO acknowledged the company had technology issues and made mistakes. But accounting problems? Those were different. "We've had accounting mistakes since almost the first thirty days," he said.

Garcia described a heated meeting with an investor named Montrell Jackson, who had been helping Batched improve its operations. Jackson met with Garcia and DiCrisi multiple times, offering guidance on how to strengthen the company. After three or four sessions, Jackson lost patience.

"He was pissed," Garcia recalled. "And I believe on that call it was just me. Mr. Jackson cussed me out. Fuckin told me shit that I haven't heard in a long time."

Garcia said he accepted the criticism. "You're right. We have to do better. We have to do better for the people," he told Jackson. But the improvements never came.

The accounting failures continued even though, Garcia insisted, all the necessary data existed. Everything was recorded on the blockchain and in company databases. The information was there. The fix should have been simple.

Yet nothing changed. Garcia defended his inaction by saying he had to support his partners while building the technology. The strategy backfired spectacularly. By late 2022, Batched was done.

🤖 Quick Answer

What accusations did Oscar Garcia make regarding Batched's collapse?
Oscar Garcia accused his COO Frank DiCrisi of orchestrating Batched's downfall during a February 10th webinar. Garcia claimed DiCrisi sold the fintech company to Savvy Wallet without authorization while Garcia recovered from hospitalization, subsequently freezing investor withdrawals in late 2022.

What circumstances surrounded the alleged unauthorized sale of Batched?
The sale occurred in October 2022 while Oscar Garcia was hospitalized for a burst appendix. Garcia stated he remained unaware of the transaction until significantly later, asserting he neither authorized nor consented to selling Batched to Savvy Wallet, a company owned by DiCrisi.

Who witnessed Garcia's accusations about the company's collapse?
Approximately 150 investors attended the webinar where Garcia presented his account of events. The founder detailed his version

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