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Re:Ex-CEO, ex-CFO of bankrupt AI company charged with fraud by darth_avocado on Sunday April 19, 2026 @09:35PM (#47829391)
> used "round trip" transfers of investor and lender funds -- meaning they sent money to purported customers, who then returned it to iLearning -- to manufacture revenue.

They should’ve instead “bought stake” in the customer companies and then asked them to use that money to buy their “product” like the normal trillion dollar companies do.

Re:Ex-CEO, ex-CFO of bankrupt AI company charged with fraud by stevenwoo on Sunday April 19, 2026 @11:24PM (#47830067)
This was kind of the scam in season four of Industry which was loosely based on Wirecard scandal. Obligatory New Yorker story: https://www.newyorker.com/magazine/2023/03/06/how-the-bigges...
Re:Ex-CEO, ex-CFO of bankrupt AI company charged with fraud by alsetmusic on Monday April 20, 2026 @11:33AM (#47835809)
I completely missed that s4 aired earlier this year. I'm so glad I saw this comment.
Re:Ex-CEO, ex-CFO of bankrupt AI company charged with fraud by stevenwoo on Wednesday April 22, 2026 @07:03PM (#47870421)
After you watch the entire season if you are into the behind the scenes there were some pretty good interviews with the creators and performers talking about it - stop reading now and come back cause even the text in the links is spoilery

If you are not into the UK dance scene, this explains some of the music choices https://www.gq.com/story/how-industry-curated-the-best-sound...

https://variety.com/2026/tv/news/industry-season-4-episode-7...

https://www.avclub.com/industry-interview-myhala-and-marisa-...

https://www.avclub.com/surreal-watching-industry-epstein-fal...

https://www.indiewire.com/features/interviews/industry-seaso...

Re:Ex-CEO, ex-CFO of bankrupt AI company charged with fraud by wrqvrwvq on Sunday April 19, 2026 @10:05PM (#47829560)
There is probably some phrase for describing this type of business activity. "If it's sophisticated it's actually legal" (no fault settlement). As a limited legalist this is actually the way it works and it's somewhat normal. A better lawyer provides better advice and steers company activity towards more defensible practice. If all the major ai players want to set money on fire for totally unmaintainable hobbies then so be it.
Re:Ex-CEO, ex-CFO of bankrupt AI company charged with fraud by arikrahman on Sunday April 19, 2026 @10:22PM (#47829677)
They should've asked their iLearningEngine AI to learn how to sophisticate their process.