Canopy financial that was the most talked about startup at Wall Street during a few years back had raised $85 million through in form of venture capital from an Investment bank Financial Technology Partners and their latest investment as reported $62.5 million was funded by Spectrum Equity Investors.  It was on 12th position in 500 lists of the fastest growing private companies in America. In 2007 the company had revenues in tune of $9 million as told by company head CEO Vikram Kashyap, in a recent statement company had revenue of $60 million in revenue.

But, suddenly, the name of the company started diminishing from portfolio pages of the big venture capitalist like GGV Capital, Spectrum Equity and Foundation Capital. This all sudden change of luck happened due to some news from the various resources occurred because Canopy was making their financial statements on Fake KMPG letterhead and no one ever noticed this malfunctioning.  A call to KPMG would have been a better choice before investing tens of million dollars on a forged company. It is the Spectrum, who was the worst hit by this development as it had invested $62.5 million investment in the company and now in process to sue company to recover some of money from them. And even on the company’s website there is hardly any information except some broken links.