The FBI yesterday announced that Joanna Smith-Griffin, the founder of AI startup AllHere Education, was involved in “securities fraud, wire fraud, and aggravated identity theft related to defrauding investors” for nearly $10 million. An indictment was released alleging deception. The FBI alleges that she misrepresented the company's revenue, customer base and cash to investors from at least November 2020 to June 2024.
According to the U.S. Attorney's Office, the company is in Chapter 7 bankruptcy. If convicted, Smith-Griffin faces up to 20 years in prison for securities fraud, up to 20 years for wire fraud, and up to two years for aggravated identity theft. Smith-Griffin could not be reached for comment.
Forbes' “30 Under 30'' list has become a meme in recent years after several of its winners were found to have been charged with fraud. Forbes and the fraud pipeline include FTX founder Sam Bankman Fried and Alameda Research co-CEO Caroline Ellison. Charlie Jarvis, founder of fintech Frank; and “Pharmaceutical Bro” Martin Shkreli.