alt.hn

6/19/2026 at 11:04:04 PM

The AI startup with no AI: Aussie boss jailed for misleading investors

https://www.smh.com.au/technology/australian-start-up-boss-who-faked-revenue-gets-nine-years-jail-20260618-p60847.html

by contingencies

6/20/2026 at 5:33:37 AM

> To lend credibility to the false figures, Fairfull forged bank documents using PDF-editing software and uploaded them to the data room investors used for due diligence.

Wait, when they're doing due diligence, nobody actually checks anything with the bank? I think it might be harder to fake eligibility for a mortgage than $107 million ARR.

by recursivecaveat

6/19/2026 at 11:10:31 PM

The startup: Metigy. Weirdly not mentioned on HN before.

by gnabgib

6/20/2026 at 12:01:01 AM

Even if it were a legitimate business/product, there is an entire world of products and services that doesn’t cross this website’s radar. There’s nothing weird about it.

by UqWBcuFx6NV4r