The AI startup with no AI: Aussie boss jailed for misleading investors
smh.com.au> To lend credibility to the false figures, Fairfull forged bank documents using PDF-editing software and uploaded them to the data room investors used for due diligence.
Wait, when they're doing due diligence, nobody actually checks anything with the bank? I think it might be harder to fake eligibility for a mortgage than $107 million ARR.
Official press release from ASIC (no paywall) https://www.asic.gov.au/about-asic/news-centre/find-a-media-...
The startup: Metigy. Weirdly not mentioned on HN before.
Even if it were a legitimate business/product, there is an entire world of products and services that doesn’t cross this website’s radar. There’s nothing weird about it.