The Department of Justice has charged a founder with defrauding investors after his AI shopping app was allegedly discovered to be nothing more than a couple of people in a trench coat. Nate offered a mobile app that promised users a one-click checkout experience on any e-commerce website “without human intervention,” effectively meaning they could […]
Fake Maple Syrup Could Flood the U.S. Thanks to Tariffs
Maple syrup, often called Canada’s “liquid gold,” has long been a target for fraudulent activities, such as the dilution or substitution with other syrups, due to its high demand. Amid threats from the United States of increased tariffs and the imposition of a baseline tariff of 10% on all imports that aren’t compliant with the Canada-United […]
Uber Claims It’s the Victim of an Elaborate Fake Car Crash Scheme
You might (rightly) think insurance is a racket, but Uber means it literally. According to Bloomberg, the ride-hailing company recently filed a racketeering lawsuit that alleges a vast criminal conspiracy in which law firms, doctors, and pain management clinics teamed up to stage fake car accidents and resulting injuries in order to cash in on […]
There’s Something Fishy About This Fish Tech Startup
An Indonesian agriculture tech startup that raised hundreds of millions of dollars appears to be a giant fraud. The company, called eFishery, reportedly told investors including SoftBank that it had revenue of $752 million for the nine months through September of last year when the real amount was actually $157 million. That means its revenue […]