#youplus — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #youplus, aggregated by home.social.
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#SiliconValley #AI tech startup #CEO gets #prison sentence after scamming million$ from #investors for #YouPlus video #Analytics #SearchEngine whose proprietary magic tech was just underpaid contract workers in India returning #PowerPoints #marketing info.
• The startup was founded by Shaukat Shamim alongwith India-based Krishna Prasad Nadig
• Founder raised $17 Mn in VC money for bogus " video opinion search engine"
• Instead of AI tech, the company was paying workers in #India to watch videos and faked #banking statements, bilked investors for personal expenses like luxury clothing & eyewear, and duty-free shopping splurges.
https://www.sfgate.com/bayarea/article/ceo-bay-area-ai-startup-serve-prison-time-fraud-20267930.php
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SF Gate: Bay Area tech startup CEO gets prison time for lying about product. “The founder of a Bay Area artificial intelligence startup company was sentenced to 2.5 years in prison for scamming investors of millions of dollars, officials said. Shaukat Shamim, the 53-year-old founder of YouPlus, a video analytics search tool, was sentenced Monday after pleading guilty to an investor fraud […]