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Man Arrested for Creating Fake Bands With AI, Then Making $10 Million by Listening to Their Songs With Bots (futurism.com)

submitted 2 months ago by [email protected] to c/[email protected]

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An alleged scammer has been arrested under suspicion that he used AI to create a wild number of fake bands — and fake music to go with them — and faking untold streams with more bots to earn millions in ill-gotten revenue.

In a press release, the Department of Justice announced that investigators have arrested 52-year-old North Carolina man Michael Smith, who has been charged with a purportedly seven-year scheme that involved using his real-life music skills to make more than $10 million in royalties.

Indicted on three counts involving money laundering and wire fraud, the Charlotte-area man faces a maximum of 20 years per charge.

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[–] [email protected] 2 points 2 months ago

Probably they find net zero (minus cost of hiring musicians) preferred over paying out a moderate income to actual artists. Capitalism at its finest.