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International Business Times

Business

Luke Funk

Former CEO Of Digital Advertising Firm Guilty Of Securities Fraud

SEC Paul Roberts Nasdaq

A view of the exterior of the Nasdaq market site in Times Square in the Manhattan borough of New York City, U.S., October 24, 2016. (Credit: Reuters / Shannon Stapleton)

The founder and former Chief Executive officer of digital advertising technology company Kubient has pleaded guilty to reporting fraudulent financial statements at the time of the company's initial public offering.

"Paul Roberts, the founder and former CEO of Kubient, inflated his company's revenue and lied about the performance of one of its signature products, an AI-powered tool that was supposed to detect ad fraud in the digital advertising industry," U.S. Attorney Damian Williams said.

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