AI Start-up Founder Accused of Investor Fraud

  • Michael Brackett, founder of data analytics firm Centricity, was indicted for allegedly defrauding investors by manipulating bank and revenue statements.
  • Brackett’s alleged fraud was discovered when he failed to attract more funding; prosecutors state Centricity falsely claimed $3.7m in annual revenue and only had two of the 13 clients asserted to investors.
  • Brackett, a US citizen residing in Switzerland, is charged with securities and wire fraud and was arrested in Maine.
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