U.S. Justice Department Targets AI Startup Fraud Ahead of IPOs

The U.S. Justice Department’s top prosecutor in San Francisco, Ismail Ramsey, has announced a crackdown on fraudulent activities by tech startups, especially those in the artificial intelligence sector, aiming to go public.

According to Reuters, Ramsey’s initiative targets the “fake it til you make it” culture that has led to notable pre-IPO frauds, undermining the credibility of both public and private financial markets.

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