The CEO of the US-based smartphone company, Sayan has been charged with fraud.
Saygus is a company that exhibits ‘most innovative’ smartphones at the Annual Consumer Electronic Trade Exhibition (CES) held in 2015.
CES trade shows are held every year in Las Vagas in the US.
According to the Ministry of Justice, CEO of the company Chad Leon Sayers asked around 300 investors to invest $ 10 million in Sayogy, promising “the success of billions of dollars” with the launch of a revolutionary new smartphone.
However, Sayers used this fund to pay his personal fees and old investors.
According to the report on the threshold, Sayers allegedly spent $ 2.17 million from the money submitted on office rent, around $ 800,000 funds to complete other lawsuits, $ 500,000 at legal fees, $ 145,000 on shopping, entertainment and personal care, and around $ 30,000, and around $ 30,000, and around $ 30,000 in his personal credit card.
CEOs reportedly began asking for funds in 2006, and using e-mail, social media including Twitter newsletters, and investors to ask people to invest.
Sajus exhibits revolutionary devices.
The company’s first vphone, launched in 2009, has a sliding keyboard.
This phone is part of VERIZPN’s open development initiative.
The company launched Saygus V2 in 2015.
At that time many compare it with OnePlus.
The company calls it ‘Super Smartphone’ and boasts 2 micro-USB slots, 64GB original storage, 13MP front camera with autofocus; And two front stereo speakers and three microphones with Harman Kardon’s voice technology.
Other phone specifications include a 580p 5-inch screen with Gorilla Glass 4, 3GB RAM, 64GB On-Board storage, 2.5GHz Quadcomm Quadcomm processor, 21MP camera with OIS and physical shutter buttons.
Connectivity features in cellphones including GPS, Wi-Fi, NFC, LTE, Bluetooth 4.0, and microUSB with OTG support.
Smartphone also has an IR transmitter and 3100mAh battery with charging Qi.
After all the hype, even a single unit of both smartphones was completely sent.
Sayers said to have succeeded in carrying jokes from 2012 and 2020.