A 53-year-old musician streamed AI songs billions of times over seven years reaping huge royalties
A musician from Cornelius, North Carolina, Michael Smith, has been charged with wire fraud conspiracy, wire fraud, and money laundering conspiracy. The charges stem from a scheme involving AI-generated songs and automated bots to manipulate streaming platforms, resulting in over $10 million in royalties.
The alleged pump-and-dump scheme lured investors with false promises
His sentencing marks another chapter in the DOJ's ongoing crackdown on crypto fraudsters