Sources
Matt Bornstein
The founder of a shopping app called Nate was charged today in federal court for faking the AI functionality in their app. Allegedly they were using human labor behind the scenes, and told investors it was AI. The founder could go to jail for 20+ years.
FBI Los Angeles Bernhard Fritsch, 63, of Malibu was found guilty by a jury of defrauding investors out of $20 million+ by lying about his technology company’s financials related to an application designed to help celebrities & influencers monetize endorsements. Details: https://t.co/qDyQ2Rz2OX https://t.co/xGLDNDLg0r
Forbes Hoan Ton-That, who served as company president, had stepped down as CEO in December. (Photo: Patrick Mcmullan via Getty Images) https://t.co/YLqDMZRtFv https://t.co/wxRQOIy38m
Additional media
