{"id":15748,"date":"2026-04-18T09:29:51","date_gmt":"2026-04-18T01:29:51","guid":{"rendered":"https:\/\/tingchao.xyz\/?p=15748"},"modified":"2026-04-18T09:29:58","modified_gmt":"2026-04-18T01:29:58","slug":"tech-ceo-accused-of-running-420m-ai-business-scam","status":"publish","type":"post","link":"https:\/\/tingchao.xyz\/?p=15748","title":{"rendered":"Tech CEO accused of running $420M AI business scam"},"content":{"rendered":"\n<figure class=\"wp-block-image alignwide size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"825\" height=\"455\" src=\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10.jpg\" alt=\"\" class=\"wp-image-15749\" srcset=\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10.jpg 825w, https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10-300x165.jpg 300w, https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10-768x424.jpg 768w\" sizes=\"auto, (max-width: 825px) 100vw, 825px\" \/><\/figure>\n\n\n\n<p>A tech CEO accused of running a company that claimed to provide AI-driven business solutions has been indicted on 10 counts for multiple financial crimes.<\/p>\n\n\n\n<p>Puthugramam \u201cHarish\u201d Chidambaran, the founder and former CEO of iLearning, and CFO Sayyed Farhan Ali \u201cFarhan\u201d Naqvi are accused of running a continuing financial crimes enterprise, conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud and wire fraud.<\/p>\n\n\n\n<p>According to the U.S. Justice Department, iLearning billed itself as a company that could \u201cgenerate and infuse insights in the flow-of-work to drive mission critical business outcomes.\u201d<\/p>\n\n\n\n<p>The department alleges that iLearning claimed to earn revenue by selling licenses for its platforms, reporting more than $420 million in revenue in 2023. iLearning became a publicly traded company in 2024.<\/p>\n\n\n\n<p>iLearning, according to the Justice Department, \u201cfabricated virtually all its customer relationships and revenues.\u201d<\/p>\n\n\n\n<p>Trump says Strait of Hormuz blockade will remain until &#8216;transaction with Iran&#8217; is complete<\/p>\n\n\n\n<p>\u201cAs alleged, the defendants exploited investor excitement over the AI boom and presented a rosy financial outlook to investors and lenders that was built on lies. While the two defendants pitched iLearning as a way to revolutionize training and education through AI, the truly artificial part of the defendants\u2019 story was iLearning\u2019s customers and revenues,\u201d U.S. Attorney Joseph Nocella Jr. said in a news release. \u201cOur Office is committed to protecting investors and holding accountable corporate executives who undermine the integrity of our financial markets for personal gain.\u201d<\/p>\n\n\n\n<p>The FBI\u2019s recent Internet Crime Report detailed over 22,000 complaints about AI-related scams last year, with total losses exceeding $893 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A tech CEO accused of running a company that claimed to provide AI-driven business solutions has been indicted on 10 counts for multiple financial crimes. Puthugramam \u201cHarish\u201d Chidambaran, the founder and former CEO of iLearning, and CFO Sayyed Farhan Ali \u201cFarhan\u201d Naqvi are accused of running a continuing financial crimes enterprise, conspiracy to commit securities [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":15749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[1639,3549,4084],"class_list":["post-15748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-ai","tag-financial","tag-ilearning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tech CEO accused of running $420M AI business scam - LISTEN WORLD<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tingchao.xyz\/?p=15748\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech CEO accused of running $420M AI business scam - LISTEN WORLD\" \/>\n<meta property=\"og:description\" content=\"A tech CEO accused of running a company that claimed to provide AI-driven business solutions has been indicted on 10 counts for multiple financial crimes. Puthugramam \u201cHarish\u201d Chidambaran, the founder and former CEO of iLearning, and CFO Sayyed Farhan Ali \u201cFarhan\u201d Naqvi are accused of running a continuing financial crimes enterprise, conspiracy to commit securities [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tingchao.xyz\/?p=15748\" \/>\n<meta property=\"og:site_name\" content=\"LISTEN WORLD\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-18T01:29:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-18T01:29:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"825\" \/>\n\t<meta property=\"og:image:height\" content=\"455\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Darcy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tingchao.xyz\/#website\",\"url\":\"https:\/\/tingchao.xyz\/\",\"name\":\"LISTEN WORLD\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tingchao.xyz\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tingchao.xyz\/?p=15748#primaryimage\",\"url\":\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10.jpg\",\"contentUrl\":\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/04\/1-10.jpg\",\"width\":825,\"height\":455},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tingchao.xyz\/?p=15748#webpage\",\"url\":\"https:\/\/tingchao.xyz\/?p=15748\",\"name\":\"Tech CEO accused of running $420M AI business scam - LISTEN WORLD\",\"isPartOf\":{\"@id\":\"https:\/\/tingchao.xyz\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/tingchao.xyz\/?p=15748#primaryimage\"},\"datePublished\":\"2026-04-18T01:29:51+00:00\",\"dateModified\":\"2026-04-18T01:29:58+00:00\",\"author\":{\"@id\":\"https:\/\/tingchao.xyz\/#\/schema\/person\/1162f45aa51c894eefc48fd30308af4a\"},\"breadcrumb\":{\"@id\":\"https:\/\/tingchao.xyz\/?p=15748#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tingchao.xyz\/?p=15748\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tingchao.xyz\/?p=15748#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u9996\u9875\",\"item\":\"https:\/\/tingchao.xyz\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tech CEO accused of running $420M AI business scam\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/tingchao.xyz\/#\/schema\/person\/1162f45aa51c894eefc48fd30308af4a\",\"name\":\"Darcy\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tingchao.xyz\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7537ee6b8d37bad39b4bef536dfdfbabb0d66d9d304b0d853fc389e9f7bc082f?s=96&d=wavatar&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7537ee6b8d37bad39b4bef536dfdfbabb0d66d9d304b0d853fc389e9f7bc082f?s=96&d=wavatar&r=g\",\"caption\":\"Darcy\"},\"url\":\"https:\/\/tingchao.xyz\/?author=6\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tech CEO accused of running $420M AI business scam - LISTEN WORLD","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tingchao.xyz\/?p=15748","og_locale":"en_US","og_type":"article","og_title":"Tech CEO accused of running $420M AI business scam - LISTEN WORLD","og_description":"A tech CEO accused of running a company that claimed to provide AI-driven business solutions has been indicted on 10 counts for multiple financial crimes. 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