- The Ministry of Justice has accused the former CEO of start -ups of Nate in fraud. Albert Saniger was charged and charged with using human work, but telling investors and customers that the work was done with artificial intelligence.
Nate’s starting technology company has promised consumers with easier purchases with artificial intelligence. But the Ministry of Justice states that there were no miraculous technologies behind the Checkout application operations. Instead, they were engaged in the Philippines and Romania.
Officials at the US Prosecutor’s Office accused Albert Saniger, former CEO of Nate, for the pronunciation of investors misleading a firm’s statement.
“Albert Saniger misled investors using the promise and attractiveness of AI technology to create a false story story that never existed,” said US prosecutor Matthew Podolsk In the statement. “This type of deception not only sacrifices innocent investors, but also distracts capital from legitimate startups, makes investors skeptical of real breakthroughs and ultimately impedes the progress of II.”
The charge is going on after 2022. Report to Information This claimed that the company used human work instead of AI.
A Nate The app is sold as a simplified consumer shopping experience, allowing them to “skip the box office”. The charge is the example of when the consumer found a couple of sneakers they wanted, they could open the Nate app and just click “Buy”.
The company said the transaction was completed by AI, but the charges said that the technology that Saniger bought in a third party “never reached the opportunity to consistently complete the purchase of e -commerce.” According to the officials of the Ministry of Justice, the actual automation was “effectively zero percentage”.
Instead, the Saniger allegedly hired hundreds of foreign contractors to complete purchases for the application. The company also used bots to automate some transactions, according to the charge.
Saniger threatens one of the securities fraud, which has a maximum term of imprisonment, and one of the fraud lines, which also has a maximum term of 20 years of imprisonment.
Originally this story was presented on Fortune.com
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2025-04-11 15:01:00
Chris Morris
