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Builder.ai, the AI startup which recently filed for bankruptcy, faked business with Dailyhunt parent VerSe Innovation to falsely inflate sales, reported Bloomberg. From 2021-2024, the firms allegedly engaged in 'round-tripping', a practice where firms bill each other for similar amounts to create an illusion of legitimate revenue. The documents reveal $60 million in reciprocal payments.
short by Bhawana Chaudhary / 02:29 pm on 01 Jun
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