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SEC Says Adviser Touted AI Project, Phony IPO To Fleece $6M

By Jessica Corso (August 27, 2024, 7:10 PM EDT) -- The U.S. Securities and Exchange is accusing a China-based asset management firm of absconding with $6 million in client funds after making a rash of false claims about investing the money with the aid of artificial intelligence and after attempting to drum up interest in an initial public offering that never materialized....

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