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SEC Fines Firm Owner $4M Over AI Pyramid Scheme Claims

By Aislinn Keely ( August 12, 2025, 7:49 PM EDT) -- The Florida owner of a multilevel marketing company agreed to a $4 million penalty to resolve a U.S. Securities and Exchange Commission suit that accused him of fraudulently raising $108 million for the purported development of artificial intelligence-powered software products, according to a consent order filed Tuesday....

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