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The AI startup with no AI: Aussie boss jailed for misleading investors

• gnabgib 4mo ago
  The startup: Metigy. Weirdly not mentioned on HN before.
  • UqWBcuFx6NV4r 4mo ago
    Even if it were a legitimate business/product, there is an entire world of products and services that doesn’t cross this website’s radar. There’s nothing weird about it.
• ivanvanderbyl 4mo ago
  Official press release from ASIC (no paywall) https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-130mr-former-metigy-ceo-david-fairfull-sentenced-to-nine-years-imprisonment/ https://www.asic.gov.au/about-asic/news-centre/find-a-media-...
• recursivecaveat 4mo ago
  > To lend credibility to the false figures, Fairfull forged bank documents using PDF-editing software and uploaded them to the data room investors used for due diligence. Wait, when they're doing due diligence, nobody actually checks anything with the bank? I think it might be harder to fake eligibility for a mortgage than $107 million ARR.