
Syndication: Westchester County Journal News
(New York, NY) – Builder.ai, a London tech company, is bound for bankruptcy. The company allegedly set up 700 engineers in India to pose as an AI program. And in doing so — potentially duped investors.
The claim is that Indian social media company, VerSe Innovation, allegedly faked business deals with Builder.ai. Microsoft, SoftBank and other investors have taken back money in response.
Builder.ai admitted to mistakes and the founder, Sachin Dev Duggal, is possibly repurchasing the company. VerSe Innovation co-founder Umang Bedi claims the allegations are false. The investigation is still ongoing.
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