An alleged scammer has been arrested under suspicion that he used AI to create a wild number of fake bands — and fake music to go with them — and faking untold streams with more bots to earn millions in ill-gotten revenue.
In a press release, the Department of Justice announced that investigators have arrested 52-year-old North Carolina man Michael Smith, who has been charged with a purportedly seven-year scheme that involved using his real-life music skills to make more than $10 million in royalties.
Indicted on three counts involving money laundering and wire fraud, the Charlotte-area man faces a maximum of 20 years per charge.
So corporations use ai and bots themselves in order to inflate their stats and steal money from investors and share holders(see Reddit) and its all cool. Someone does that but it costs the corporation some money. Straight to jail.
Seriously, how has the reddit IPO which was offered to users not been a fraudulent scheme due to the website statistics being based on genuine user interaction with no mention of auto reposting or bots that are either operated by or hired by reddit?
It genuinely seems like the next ponzi scheme but that would require so many federal agencies that stopped giving shit and learning how the world works to see any peep into that business.
But what do I know, I’m just some average Joe that gets audited over a $300 mistake on annual taxs which I have to pay a private third party more than that to do.