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Founder of Collapsed Social Media Site 'IRL' Charged With Fraud Over Faked Users
This week America's Securities and Exchange Commission filed fraud charges against the former CEO of the startup social media site "IRL" The BBC reports: IRL — which was once considered a potential rival to Facebook — took its name from its intention to get its online users to meet up ...
Earlier this week, the SEC charged BitClout founder Nader Al-Naji with fraud and unregistered offering of securities, claiming he used his pseudonymous online identity "DiamondHands" to avoid regulatory scrutiny while he raised over $257 million in cryptocurrency. In June, the SEC charged Ilit Raz, CEO and founder of the now-shuttered AI recruitment startup Joonko, with defrauding investors of at least $21 million. The agency alleged Raz made false and misleading statements about the quantity and quality of Joonko's customers, the number of candidates on its platform and the startup's revenue.
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