A Miami AI company’s CEO will pay US$64,000 to settle accusations of lying to investors


But, when Destiny presented the first robot prototype in February 2023, 'It was a far cry from the socially intelligent 'humanoid' robot represented to investors'. — Reuters

The CEO of an AI robotics company that she ran out of a Miami apartment was better at hiding truths about the company’s progress, herself and where investor money got spent than guiding the company to produce the service robot it promised investors.

At least, that’s what an Securities and Exchange Commission complaint against Destiny Robotics and CEO Megi Kavtaradze claimed. Kavtaradze, legally, neither admits nor denies the accusations. And she refused comment when reached Sunday by phone.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

How Agility Robotics uses artificial intelligence, from their humanoid 'Digit' to everyday workflow
Man who lost key motion in Elon Musk suit alleges judge used faulty AI
Netflix inks deal for exclusive video podcasts, episodes on YouTube will disappear
Nvidia to license Groq technology, hire executives
Spotify says piracy activists hacked its music catalogue
Italy watchdog orders Meta to halt WhatsApp terms barring rival AI chatbots
Podcast industry under siege as AI bots flood airways
Do online comments sections reflect public opinion? Study casts doubt
AI resurrections of dead celebrities amuse and rankle
US adds new models of China’s DJI and all other foreign-made drones to its blacklist

Others Also Read