Former AI Firm Leaders Charged with Fabricating Revenue
Former iLearningEngines executives face fraud charges for allegedly fabricating 90 percent of revenue. The bankrupt AI firm used sham contracts to mislead.
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Federal prosecutors in the United States have unsealed a 10-count indictment against the former top executives of ILEARNINGENGINES INC, alleging a massive scheme to defraud investors and lenders. Puthugramam Chidambaran, the company's founder and former chief executive, and Sayyed Farhan Ali Naqvi, the former chief financial officer, are accused of fabricating nearly all of the business automation company's revenue and customer base.
