This statement is based on the information available at the time of writing, the 22nd of March 2024.

This Wednesday, we received notification from a renter regarding his engagement in unfaithful behaviour towards some of our members in London.

The renter is a previously trusted member of the industry, the Wedio platform and with many years of rental experience, who unfortunately chose to turn deceitful. He has rented gear without returning it, and we are aware that he has sold rented equipment.

On Wednesday, the 20th of March, he contacted our Member Success Manager and confessed to the entire situation.

Subsequently, we have confirmed that some of the equipment remains in a pawn shop.

Due to the significant impact on some of our members, we assure you that we take this seriously and we have allocated all available resources to collaborate closely with affected lenders, the police, and a lawyer to recover as many of the rented items as possible.

We intend to keep all stakeholders updated when new information comes to light.