Michael Smith, 54, of Cornelius, North Carolina, has pleaded guilty in federal court to running a scheme that exploited music streaming platforms and diverted royalty payments from artists. He admitted to one count of conspiracy to commit wire fraud, which carries a maximum sentence of five years in prison, and agreed to forfeit $8,091,843.64. According to U.S. Attorney for the Southern District of New York Jay Clayton, Smith used AI to generate hundreds of thousands … More
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