Insights & Regulatory Updates
Start-Up AI and Robotics Company and CEO Face SEC Charges for Investor Fraud
In a recent enforcement action, the Securities and Exchange Commission (SEC) charged Destiny Robotics Corp., a start-up specializing in artificial intelligence (AI) and robotics, along with its founder and CEO, Megi Kavtaradze, for allegedly defrauding investors through false and misleading statements about the company’s operations and products.
Key Takeaways from SEC Fraud Charges Against the Kubient Officers
In early October, the Securities and Exchange Commission (SEC) filed accounting fraud charges in the U.S. District Court for the Southern District of New York against the CEO, CFO, and Audit Committee Chair of Kubient, Inc. Kubient, a technology company that claims to employ artificial intelligence to detect fraud in digital advertising, is now at the center of an enforcement action highlighting serious governance failures at the highest levels of management.
SEC Charges Accountant Olayinka Oyebola and His Firm With Aiding and Abetting Massive Fraud
The Securities and Exchange Commission (SEC) has taken significant enforcement action against Olayinka Oyebola and his accounting firm, Olayinka Oyebola & Co. (Chartered Accountants), alleging their role in a sprawling securities fraud orchestrated by Mmobuosi Odogwu Banye, a businessman with an ambitious—and, it turns out, fictitious—empire of U.S.-based companies.