Tech CEO promised AI but hired workers in the Philippines instead, FBI claims

The former CEO of fintech app Nate has been charged with fraud for making misleading claims about the app's artificial intelligence technology -- or lack thereof. In a bizarre twist from the usual AI narrative, the FBI alleges that this time human beings were doing the work of AI, and not the other way around. According to a press release from the U.S. Attorney's Office, Southern District of New York, Albert Saniger has been indicted for a scheme to defraud investors. "As alleged, Albert Saniger misled investors by exploiting the promise and allure of AI technology to build a false narrative about innovation that never existed," Acting U.S. Attorney Matthew Podolsky said in the release. Government attorneys say Nate claimed to use AI technology to complete the e-commerce checkout process for customers.