Tech Founder Charged with Fraud Over Fake AI Shopping App
- Albert Saniger, 35, raised over $40 million for the app “nate.”
- The app claimed to use AI for automating online purchases.
- Instead of AI, a call center in the Philippines performed tasks.
- Saniger faces charges of securities fraud and wire fraud.
- Each charge carries a maximum sentence of 20 years.
Albert Saniger, founder of “nate,” misled investors by claiming the app used AI technology, when in fact human workers were executing the tasks. He is now charged with securities and wire fraud, each carrying a potential 20-year sentence.
Source (2.6)https://decrypt.co/314469/startup-ceo-charged-ai-humans-philippines?rand=52368
