Carlos Watson, the founder of Ozy Media, was sentenced on Monday to 116 months in prison for defrauding investors and misrepresenting the company’s finances. The decision comes after Watson’s conviction in July for orchestrating a fraudulent scheme that included falsifying contracts and fabricating deals to gain investor trust, according to Reuters. Fraudulent Deals And Fabricated Contracts The sentencing, delivered by US District Judge Eric Komitee in Brooklyn federal court, marks the culmination of a high-profile case. Prosecutors accused Watson and his now-defunct media startup of inflating revenue projections and audience
Joanna Smith-Griffin, founder of the education-focused AI startup AllHere Education, has been charged with fraud and identity theft after allegedly misrepresenting her company’s financial health and customer base. Smith-Griffin, 33, reportedly secured nearly $10 million in investments by inflating revenue figures and claiming non-existent contracts with major school districts, including New York City Public Schools. Misrepresentation and Personal Gain Launched in 2016, AllHere Education aimed to combat absenteeism in schools using an AI chatbot named “Ed.” By 2021, Smith-Griffin asserted that her technology was adopted by eight major districts. However,
Sam Bankman-Fried, the co-founder and former CEO of the failed crypto exchange FTX, is facing allegations of funding a group with racist ties. As first reported by The Guardian, FTX trustees allege that payments to the group were made with misappropriated funds. FTX and Lightcone FTX trustees allege that Sam Bankman-Fried and other company insiders used nearly $5 million of misappropriated funds to help a nonprofit called Lightcone Infrastructure purchase the historic Rose Garden Inn hotel. The property, now named the Lighthaven Campus, hosts conferences and workshops on the “Tescreal”
Two conservative operatives have been ordered to pay up to $1.25 million in restitution for their roles in targeting Black voters with robocalls during the 2020 election. What Happened? The case, led by New York Attorney General Letitia James, concluded with Jacob Wohl and Jack Burkman admitting to a scheme designed to prevent Black voters from using mail-in voting. The duo operated under a sham organization called Project 1599 and spread calls claiming that mail-in voting would lead to various enforcement agencies using personal data against voters. The robocalls propagated alarming falsehoods, suggesting that
April Fools’ Day is known for its jokes, but in the tech world, it can be challenging to tell what’s real and what’s not, even on regular days. A lot is happening in tech, from ingenious deceits to blatant scams. We’ve got stories about everything from a Black tech pro who made up a fake assistant to earn more respect to the wrong use of AI in politics and huge money tricks in the crypto world. Here are 9 POCIT stories to check out this April Fools’ Day. 1. The
