Ludwig Exposes $3 Million Accounting Scandal Behind Offbrand’s Events Closure

Famous streamer Ludwig Ahgren recently disclosed a significant multi-million dollar controversy revolving around his creative agency, Offbrand. This situation has unfolded over several years and has raised considerable concerns about the company’s financial practices.

On December 13, Offbrand took to Twitter to announce the shocking closure of its events division, citing the failure to establish a sustainable business model within that sector.

Although Offbrand Games will still operate, this unexpected withdrawal from the events market signals a critical juncture for the company. Established in 2022, Ludwig founded Offbrand with the mission of empowering streamers and turning their creative ideas into reality.

Revelation of $3 Million Misappropriation

During a livestream on December 14, Ludwig openly discussed the shocking discovery that approximately $3 million of his YouTube sponsorship funds had allegedly been diverted by accountants to artificially inflate Offbrand’s financial performance. This revelation prompted a thorough investigation by his team.

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— offbrand (@offbrand_studio) December 14, 2024

Ludwig explained, “My sponsorship money has not been paid out to me in a couple of years. It was basically being used as float to make Offbrand’s numbers look better than they were. When I found this out, I was like, ‘Oh damn, the books here are cooked.’”

The severity of the financial mismanagement became apparent as further investigation revealed substantial discrepancies in the company’s accounting practices. “If we keep digging in this hole, not only is Offbrand f*cked, Mogul Moves is f*cked, everyone loses their job,” he added.

In a subsequent estimate, Ludwig indicated that the total sum involved in this misappropriation was close to three million dollars, emphasizing the urgency of addressing the issue before it exacerbated. “I had to act quickly before the situation got a whole lot f*ckin’ worse,” he stated.

Ludwig mentioned that he intends to handle the situation privately, although he aimed to clarify the reasons behind the abrupt closure of Offbrand’s events division.

This incident is one of multiple factors influencing the decision. In a YouTube video released on the same day, he elaborated that the closure was not tied to the expiration of his YouTube contract, which ended on November 30. While the income was helpful, the overarching business model proved unfeasible, especially given the internal turmoil.

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