Fintech Founder Faces Fraud Charges After ‘AI’ Shopping App Revealed to Rely on Human Labor in the Philippines

Albert Saniger, ex-CEO of AI shopping app Nate, was charged with defrauding investors by falsely claiming its tech enabled fully automated online purchases. In reality, humans in a Philippine call center did the work. Nate raised over $50M before collapsing in 2023, leaving investors with major losses. Similar cases of exaggerated AI claims have surfaced recently.

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