a financial Organizer in California has accused several companies offering AI-based encryption trading services of Fraudulent investment schemes.
On April 19, the ca of Financial Protection and Innovation issued cease and desist orders against Five organizations allegedly using artificial intelligence in trade encryption assets. These companies include Harvest Keeper, Visque Capital, Coinbot, QuantFund, Max Wide Technologies and its CEO Jean Gregory Serrato. California department of Financial Protection and Innovation issued these orders.
The Digital Forensics and Investigations (DFPI) group noted that companies “went to great lengths that look like they’re a legitimate business,” meaning they’ve created professional websites, social media Profiles and promotions from influencers.
Harvest Keeper and Coinbot of Using actors and artificial intelligence to imitate CEOs, which is a violation of California financial law. Both Harvest Keeper and Coinbot sites have been hacked down. However, the sites of The other three companies are still available online.
According to the regulating agency, two companies fabricated their CEOs. An AI-generated avatar known as “Michael Vaness” is believed to have been used by the alleged people technology Max Post Company to serve as CEO and promote its goods. The alleged avatar appeared in YouTube ads promoting the company’s products.
It was alleged that Harvest Keeper, which presents itself as a cryptocurrency trading businessretain the services of Actor to portray the part of Its CEO is Marcus Peters. According to the DFPI, Harvest referred to Peters as “the leader” and “main Electrical generator of ideas.”
DFPI confirms that the entities were investing on Excitement surrounding artificial intelligence (AI) to entice potential investors with The Promise of “Incredible returns.” They did it by claiming use the technology to trade encryption assets Among other claims, through the use of multi-level marketing plans to reward investors for Recruit other potential investors.
the regulatory body Tightening restrictions on High-yield investment products, claiming that these programs Inflating expectations by promising high returns before failing to deliver on those promises.
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