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Series C Funding to Drive R&D, Fuel Vision for End-to-End Compliance CapabilitiesTexas-based fraud detection startup Seon closed an $80 million Series C funding round to support its shift toward an all-in-one AML and KYC compliance platform powered by AI, as it pursues aggressive international expansion and deeper product integration.
CEO Accused of Providing Misleading Revenue, Liquidity Numbers to Key StakeholdersFinancial statement fraud is once again making headlines. Fashion startup CaaStle has accused its co-founder and CEO, Christine Hunsicker, of serious financial misconduct, leading to her resignation. The incident could be one of the biggest cases of start-up fraud in recent years.
GameOn? It's looking more like game over for that biz The co-founder and former CEO of AI startup GameOn is in a pickle. After exiting the top job last year under a cloud, he's now in court – along with his wife – for allegedly bilking his company and its investors out of more than $60 million.…
LexisNexis Combines AI-Driven Document Authentication With Its Fraud SolutionsTo counter AI-driven fraud, LexisNexis acquired IDVerse, a London-based startup focused on document authentication and regulatory compliance. This acquisition aims to seamlessly integrate advanced tools into LexisNexis' fraud and identity platforms, enhancing global operations.
Charges Against AllHere Founder Include Securities and Wire FraudU.S. law enforcement arrested and indicted the founder of an artificial intelligence edtech startup AllHere over fraud charges. Federal prosecutors accused 33-year-old Joanna Smith-Griffin of defrauding investors, charging her with securities fraud, wire fraud and aggravated identity theft.
The former CEO and COO of a health startup will spend years in jail after conducting a large-scale fraud scheme
John Clifton Davies, a convicted fraudster estimated to have bilked dozens of technology startups out of more than $30 million through phony investment schemes, has a brand new pair of scam companies that are busy dashing startup dreams: A fake investment firm called Equity-Invest[.]ch, and Diligere[.]co.uk, a scam due diligence company that Equity-Invest insists all investment partners use. A native of the United Kingdom, Mr. Davies absconded from justice before being convicted on multiple counts of fraud in 2015. Prior to his conviction, Davies served 16 months in jail before being cleared on suspicion of murdering his third wife on their honeymoon in India.
John Clifton Davies, a 60-year-old con man from the United Kingdom who fled the country in 2015 before being sentenced to 12 years in prison for fraud, has enjoyed a successful life abroad swindling technology startups by pretending to be a billionaire investor. Davies' newest invention appears to be "CodesToYou," which purports to be a "full cycle software development company" based in the U.K.