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310 Fintech Founder Charged With Fraud After 'AI' Shopping App Found To Be Powered By Humans in the Philippines

Slashdot
msmash @ Slashdot · 04/10/2025 20:18 EDT

Fintech Founder Charged With Fraud After 'AI' Shopping App Found To Be Powered By Humans in the Philippines

Albert Saniger, the founder and former CEO of Nate, an AI shopping app that promised a "universal" checkout experience, was charged with defrauding investors on Wednesday, according to a press release from the U.S. Department of Justice. From a report: Founded in 2018, Nate raised over $50 million from investors like Coatue and Forerunner Ventures, most recently raising a $38 million Series A in 2021 led by Renegade Partners. Nate said its app's users could buy from any e-commerce site with a single click,.

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