Shopping app CEO charged with defrauding investors of millions, and the reason is company’s “trade secret”

Albert Saniger, the founder of e-commerce startup Nate, faces fraud charges for allegedly deceiving investors about the company's AI capabilities. The DOJ alleges that Nate falsely claimed its app used AI for automated purchases, while hundreds of human contractors were manually processing transactions. Saniger is accused of concealing the reliance on human workers and faces potential imprisonment.

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