BREAKING: Springleap’s Eran Eyal released from US prison, posts $250k bail

SA entrepreneur Eran Eyal, who faces fraud charges in the US, was today released from prison after he appeared in a New York court and posted bail — which was earlier today set at a whopping $250 000.

The portal for New York City’s Department of Correction confirmed his released and payment of bail today (see below screenshot).

An earlier visit to the same portal by Ventureburn at 4pm SA time today revealed that the former Springleap founder had been in jail in the Rikers Island correctional facility (pictured above) since his arrest on 23 August.

Former Springleap founder Eran Eyal was today released from prison after he appeared in a New York court and paid bail of $250 000

The facility — infamous for beatings by prison guards — sits on a 400-acre island next to New York’s LaGuardia Airport. It’s the same prison where former IMF head Dominique Strauss-Kahn was sent to in 2011.


Ventureburn contacted Eyal via Facebook messenger, email and his telephone (listed on his Facebook page) at 7pm SA time today, but he did not immediately respond or pick up. His mailbox on his telephone was too full to leave a message.

Eyal has yet to make a statement or respond to questions from Ventureburn. It is unclear whether his failure to respond to emails, Facebook messages and calls is because he had been in jail.

Eyal was arrested on 23 August and charged the following day by the New York Attorney General with allegedly stealing $600,000 from investors by fraudulently soliciting investors to purchase convertible notes through false representations of his company, Springleap. If convicted of the top count charged, he faces up to 15 years in prison.

According to charges, between 2014 and 2015, Eyal allegedly attracted investors to Springleap through a series of false representations about Springleaps’s management team, advisory board, creative professionals and client base. The US District Attorney emphasised in her statement last month that Eyal is innocent until proven guilty.

Shopin, the US startup founded by Eyal has since removed the former Springleap founder from his position as CEO of the US company and replaced him with an interim head (see this story).

This is a developing story.

Read more: Are these the messages Springleap’s Eran Eyal sent to investors for funding?
Read more: Springleap’s Eran Eyal removed as CEO of Shopin and replaced with interim head [Updated]
Read more: Springleap’s Eran Eyal did not seem like scammer to me – DocuSign founder
Read more: Charges against Springleap founder not first time Eran Eyal’s in trouble with law [Updated]
Read more: Investor gatvol over losing R8.5m to Springleap through ‘misrepresentation’
Read more: Springleap charges: Are claims as world’s 7th most innovative firm a fabrication? [Updated]
Read more: SA entrepreneur Eran Eyal charged with fraud in the US over startup Springleap
Read more: Springleap’s Trevor Wolfe talks agencies, startups, and pivots [Q&A]
Read more: Springleap’s new Creatives Insights platform helps brands expand to foreign markets
Read more: Springleap goes big: expands into Middle Eastern, pan-African markets
Read more: SA crowdsource design startup Springleap secures R4m+ Angel round
Read more: Life after t-shirts: Ventureburn gets the exclusive behind Springleap’s pivot

Featured image: Rickers Island prison, New York (Bric TV via Youtube)



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