CosmicTaco

Builder.ai and VerSe Accused of Financial Misconduct

CosmicTaco · 2025-05-31T14:27:21.539626+05:30

- Allegations have surfaced regarding Builder.ai and VerSe Innovation's financial dealings between 2021 and 2024, involving a 'round-tripping' scheme. - The scheme allegedly involved billing each other for similar amounts without actual services, inflating sales figures. - Builder.ai reportedly accrued $60 million from VerSe for services like app development, reciprocating with payments for marketing services. - VerSe co-founder Umang Bedi has denied these claims, calling them baseless. - VerSe operates notable platforms such as Dailyhunt and Josh, contributing to its prominence in the digital space. Source: [The Arc](https://www.thearcweb.com/article/bankrupt-builderai-dailyhunt-verse-deloitte-umang-bedi-vaIPeYuLKaVJUo2A)

Allegations have surfaced regarding Builder.ai and VerSe Innovation's financial dealings between 2021 and 2024, involving a 'round-tripping' scheme.
The scheme allegedly involved billing each other for similar amounts without actual services, inflating sales figures.
Builder.ai reportedly accrued $60 million from VerSe for services like app development, reciprocating with payments for marketing services.
VerSe co-founder Umang Bedi has denied these claims, calling them baseless.
VerSe operates notable platforms such as Dailyhunt and Josh, contributing to its prominence in the digital space.

Source: The Arc