Joonko founder pleads guilty to securities fraud in $27M raise

Ilit Raz, founder and former CEO of AI startup Joonko, raised roughly $27 million after telling investors it had customers and revenue it never actually earned, then sent a forged bank statement and fake purchase orders. She pleaded guilty to federal securities fraud and faces up to 20 years. AI-related securities class actions hit 15 in the first half of 2026, near 2025's 16 total.