Close Menu
    X (Twitter) LinkedIn
    CapitalAI DailyCapitalAI Daily
    X (Twitter) LinkedIn
    • Markets & Investments
    • Big Tech & AI
    • Fraud & Scams
    • Hacks
    • Banks
    • Crypto
    Tuesday, September 23
    CapitalAI DailyCapitalAI Daily
    Home»Fraud & Scams»Fraudster Extracts $2 Million After Selling Fake AI Cures in ‘Modern-Day Snake Oil’ Scheme

    Fraudster Extracts $2 Million After Selling Fake AI Cures in ‘Modern-Day Snake Oil’ Scheme

    By CapitalAI Daily TeamSeptember 21, 20252 Mins Read
    Share
    Twitter LinkedIn

    A Minnesota woman has admitted to orchestrating a yearslong scheme built on false promises of AI cures.

    Tammy Wadsworth, 63, pleaded guilty in U.S. District Court in Minneapolis to possession of counterfeit medical products, conceding that she marketed devices through the pain clinic she founded, reports The Minnesota Star Tribune.

    Federal prosecutors agreed to drop the remaining counts in her indictment as part of a plea deal.

    Court documents show that Wadsworth recruited franchise owners across the country beginning in 2017. She sold them devices and gels from a third-party vendor, then replaced the manufacturer’s labels with her own for the Pain, Injury and Brain Centers of America (PIBCOA).

    Prosecutors say she pitched the products as “AI myoneurvascular therapy,” claiming the machines used artificial intelligence and low-voltage electricity to restore cells and cure a wide range of diseases. Conditions listed included incurable illnesses such as autism, Parkinson’s disease, and Alzheimer’s disease.

    The treatments not only failed to heal patients, but often caused burns, scars, and nausea.

    Says Acting US Attorney Joe Thompson,

    “Wadsworth is a modern-day snake oil salesman.”

    Federal filings say more than a dozen franchise operators were forced to shut down after investing between $60,000 and $250,000 each. Collectively, the scheme generated more than $2 million in fraud proceeds.

    Thompson adds,

    “Fraud that exploits families searching for answers is among the most shameless crimes we see. It is theft dressed up as innovation. Wadsworth now joins the long line of Minnesota fraudsters who will see federal justice.”

    Investigators allege Wadsworth used some of the proceeds to purchase a home in Nevada and a Mercedes-Benz.

    Her sentencing date has not yet been scheduled.

    AI AI cures AI fraud AI scam

    Read More

    Elon Musk Vows One Terawatt of Compute As AI Arms Race Heats Up With Nvidia’s up to $100 Billion Deal With OpenAI

    September 23, 2025

    Fundstrat Names Two AI Giants Fueling S&P 500 Rise, Says This Stock Group Now ‘Very Bullish’ Amid Fed Rate Cuts

    September 23, 2025

    $3.3 Billion Firm Solus Calls AI Trade ‘Most Dominant’ Story, Predicts New Record Highs for S&P 500

    September 23, 2025

    Citi Taps Google’s Gemini and Anthropic’s Claude for 5,000-Staff AI Pilot

    September 23, 2025

    $2.1 Billion Wealth Manager Warns AI Trade ‘Most Overvalued in Market,’ Calls Group Fad Stocks

    September 22, 2025

    Sam Altman Says ChatGPT Rolling Out ‘Compute-Intensive’ Upgrades in Coming Weeks

    September 22, 2025
    X (Twitter) LinkedIn
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms of Service
    • Opt-out preferences
    © 2025 CapitalAI Daily. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.