"Michael Smith has preempted his trial by pleading guilty to the fraud scheme, facing a maximum penalty of five years in jail for conspiracy to commit wire fraud."
"Smith has reportedly agreed to pay 8.1 million dollars, which will be delivered in a forfeiture process, whereby he hands over the proceeds of his crime."
"The trial judge might impose an additional fine of $250,000, adding to the financial repercussions of Smith's fraudulent activities."
Michael Smith, a musician from North Carolina, pleaded guilty to one count of conspiracy to commit wire fraud related to fraudulent streaming of AI-created songs. He faces a maximum penalty of five years in prison and has agreed to forfeit $8.1 million in proceeds from his crime. Additionally, the trial judge may impose a fine of $250,000. Sentencing is set for July 29.
Read at RAIN News
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