I recently (or not so recently at this point) wrote a guest post for AZTechBeat.com about my frustration with the service provider, consultants and vultures trying to exploit startups. Basically these folks pray on the more innocent startups and try to associate or worse take equity in the startup while “investing” in them. When realistically no hard money ever changes hands there’s no real investment. The service provider will offer services for equity which is fine, but don’t claim to be an Angel investor when you don’t have any money invested..
You can read the original post here: http://aztechbeat.com/2013/04/and-you-call-yourself-an-angel-investor/
Have you run in to this as well? Thoughts?