Fraud articles

meta mark zuckerberg layoffs superintelligence

Meta knowingly took in billions from scam ads on Facebook and Instagram, says Reuters

Another day, another Meta controversy
In a nutshell: Meta has faced several controversies over the years, including the misuse of private data for political profiling, failing to stop the spread of fake news and hate speech, and ignoring the impact of Facebook and Instagram on the mental well-being of young people. A new report now claims the company has also knowingly accepted fraudulent and scam ads originating in China.
pablo escobar phone scam creator pleads guilty fraud with video

Escobar Phone creator pleads guilty to scamming buyers, never delivered devices

Sullying the good name of Pablo Escobar
Facepalm: In a turn of events that will likely surprise no one, the person behind the Escobar Phone that made headlines several years ago for its association with the infamous drug kingpin has pleaded guilty to fraud. The phones, which were rebranded Samsung Galaxy Folds, were never delivered to most customers, nor were the Escobar-branded flamethrowers he also purported to sell. However, buyers did get a certificate of ownership.
builder

Builder.ai collapses after revelation that its "AI" was hundreds of engineers

Billion-dollar implosion exposes the perils of AI hype
Cutting corners: Builder.ai promised to revolutionize software development with artificial intelligence – and convinced deep-pocketed investors it had. Backed by Microsoft and valued at $1.5 billion, the startup masked manual labor as machine learning until the facade crumbled, leaving behind lawsuits, layoffs, and one of the industry's most embarrassing collapses.