The former chief executive of failed artificial intelligence marketing start-up Metigy has been sentenced to nine years’ jail for misleading investors while raising capital and dishonestly using his position as a director to get a multi-million-dollar personal loan to spend on luxury homes.
In November, David Fairfull admitted to one count of making false and misleading statements to investors – who put in $15.7 million for shares during a $50 million capital raising in 2021 – and one count of dishonestly using his position as a director to gain an advantage when borrowing $7.7 million in 2021.
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