Treasury discloses a $200,000 penalty over an unreported AI investment
Treasury said on October 7 that it penalized Amidi LLC $200,000 in July. It says a controlled Chinese fund failed to notify an investment in Noematrix, a Chinese embodied AI company. The investment was approximately $92,478.
Verified 12:48 PM PDT · 2 original sources
This was a notification violation, according to Treasury. The announcement does not say the underlying investment was prohibited. The penalty was issued in July, rather than on the announcement date.
Future enforcement records will show how Treasury applies reporting duties to investments made through controlled foreign entities.
Audit the story
Original sources
Company claims remain company claims. Follow the reporting and judge the evidence directly.
- U.S. TreasuryEnforcement penalty for violation of outbound program ↗
- U.S. TreasuryOutbound Investment Security Program ↗
Continue the edition