FULSHEAR, Texas (Covering Katy News) — A Fulshear resident who served as chief financial officer of a Maryland-based artificial intelligence company has been indicted on federal fraud charges alleging he and the company’s founder fabricated the vast majority of the firm’s customers and revenues — inflating reported income by hundreds of millions of dollars — before the company collapsed into bankruptcy.
Sayyed Farhan Ali Naqvi, 44, of the Cross Creek Ranch community in Fulshear, was arrested April 17 in San Jose, California. He is charged alongside Puthugramam “Harish” Chidambaran, 57, of Potomac, Maryland, the founder and former CEO of iLearningEngines Inc.
Ten counts, potential life sentence…