"The books were cooked" - Ludwig breaks silence over accounting scandal that led to Offbrand's events branch being shutdown

Ludwig Ahgren has addressed the online community regarding his company Offbrand's recent closure of its events branch. For those unaware, Offbrand released a public statement on X on December 14, 2024, stating that the company "failed to make the events business sustainable."

While ensuring that Offbrand Games is "not going anywhere," Ludwig's venture posted:

"Our people worked hard and made amazing content, but we failed to make the events business sustainable. As a result, we've made the difficult decision to shut that side of the business down. Offbrand Games is not going anywhere. Ludwig will continue to create and host events through Mogul Moves."

Later that day, Ludwig hosted a Twitch stream, providing details about the situation. According to him, he discovered a few months ago that his sponsorship money had not been paid over a "couple of years."

The Los Angeles-based personality claimed that this money was "being used as float" to inflate the organization's revenue:

"Well, I found out literally, I think, a month or two ago. Maybe two months ago, that my sponsorship money has not been paid out to me in a couple of years. And it was basically being used as a float to make Offbrand's numbers look better than they were."

The content creator then stated that his venture's accounting books were "cooked," adding that he "scammed himself":

"And so, when I found this out, I was like, 'Oh, damn! The books here were a bit cooked!' The books were cooked. Yes, sir! The books were cooked. Yeah, I scammed myself. And then, when me and the team did some digging, we were like, 'This hole is too deep, and if we keep digging in this hole, not only is Offbrand f**ked, Mogul Moves is f**ked, everyone loses their job.'"

Timestamp: 00:43:10

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Ludwig claims the accounting scandal at Offbrand that led to its events branch being shut down is to the "tune of about $3 million"

Ludwig provided a "relative idea" of how bad the accounting scandal was that resulted in Offbrand's events branch being closed. He said:

"Just for some, like, relative idea of how bad it is... it's to the tune of about $3 mill. That's the amount of money. Yeah. That's a lot of money. That's a lot of money! And so, at that point, it's like, 'You have to act now or this situation gets a whole lot f**king worse!' Which is why this might feel quite sudden."

The YouTube and Twitch streamer added that he would not publicly comment on whether the situation was caused by "maliciousness or incompetence."