David Fairfull, former CEO of AI marketing firm Metigy, has been charged with misleading investors and dishonestly using his position. Fairfull appeared in the Downing Centre Local Court to answer charges following an investigation by the Australian Securities and Investments Commission (ASIC). He has been charged with five counts of making false and misleading statements and one count of dishonestly using his position as a director to gain an advantage. The charges relate to the period 2018 to 2021, during which Metigy developed a software product designed to assist small to medium businesses with digital marketing strategies.

ASIC alleges that Fairfull provided false information about the revenue and income of the companies to potential investors and used his position as a director to obtain a loan for his personal benefit. The matter will return to the Downing Centre Local Court on 10 December 2024. The case is being prosecuted by the Office of the Director of Public Prosecutions (Cth) following a referral from ASIC.

ASIC Deputy Chair Sarah Court commented on the case, stating, '"ASIC took this case as directors' duties are an enduring priority for us. Company directors play an integral role in overseeing governance in addition to both performance and compliance and as such have a responsibility to act with integrity and honesty.'"