Musician who used AI to create fake songs charged with $10 Million Streaming Fraud
- A North Carolina man, Michael Smith, used AI to create fake songs and bands, then streamed them using bots to earn $10 million in royalties. - Smith, 52, was charged with wire fraud and money laundering conspiracy, facing up to 20 years in prison for each charge. - He created thousands of fake streaming accounts and used software to loop his music, making it appear as if real listeners were tuning in. - Smith's scheme involved uploading thousands of AI-generated songs weekly, earning him about $110,000 each month by mid-2019. - This case marks the first criminal prosecution for musical streaming manipulation by the Manhattan U.S. attorney's office. Source: [nytimes](https://www.nytimes.com/2024/09/05/nyregion/nc-man-charged-ai-fake-music.html)
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SBF found guilty on all 7 charges of fraud
These charges carry a maximum sentence of 110 years. Mr. Bankman-Fried’s sentencing is set for March 28. The FTX founder became a symbol of crypto’s excesses last year, when his company collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending.
https://www.nytimes.com/live/2023/11/02/business/sam-bankman-fried-trial/heres-the-latest-on-the-trial?smid=url-share
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India's youngest billionaire: Pearl Kapur
Started a company in 2023 and already valued at $1.1Bn 🚀 Company is called Zyber365. Never heard of it? Have a better GK. Raised Series A from Sram & Mram Group of $100Mn. Sram & Mram is a Tier 0.5 investor. Remember 5ire? That random Web 3 company that had become a unicorn out of nowhere? Same investor. The company currently has zero products to offer and claims to build a suite of products in the next three years. Long term thinking 💪🏻💪🏻💪🏻 Is this some kind of money laundering scheme? Smells like a scam!
Pearl Kapur has a net worth of $1.1 billion (approximately Rs 9,129 crore) and commands a majority share of the 90 per cent in Zyber 365, wh...
https://www.moneycontrol.com/news/trends/who-is-pearl-kapur-the-27-year-old-who-built-company-worth-rs-9800-crore-12235951.html