David Fairfull, the former CEO of AI marketing firm Metigy, has entered a guilty plea to charges involving misleading investors and dishonestly exploiting his position. “The former CEO of Metigy, David Fairfull, has pleaded guilty to one count of making false and misleading statements and one count of dishonestly using his position as a director to gain an advantage contrary to the Corporations Act 2001,” according to a press release.

Between 2018 and 2021, Metigy developed AI-driven software aimed at helping small to medium enterprises with digital marketing strategies. “During 2018 to 2021, the Metigy group of companies developed a software product designed to harness advances in artificial intelligence to assist small to medium businesses with digital marketing strategies,” the press release stated.

Fairfull admitted to providing false information concerning Metigy’s revenue and income to potential investors. “Mr 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 own personal benefit,” the press release noted.

The misleading statements were linked to three capital raises from October 2018 to October 2020, which collectively raised approximately $23.4 million. “three capital raises between October 2018 and October 2020 which raised approximately $23.4 million from investors,” the press release detailed. Additionally, a secondary share sale in July 2021 saw investors pay about $15.68 million for shares. “a secondary share sale in July 2021 in which investors paid approximately $15.68 million for shares,” the press release added. There was also a planned capital raise of $50 million. “a planned capital raise of $50 million,” the press release mentioned.

In November 2021, Fairfull used his directorial position to lend $7.7 million from Metigy to fund personal real estate purchases. “In November 2021, Mr Fairfull dishonestly used his position as a director of one of the Metigy companies to lend $7.7 million from Metigy to finance the purchase of real estate for himself,” the press release stated.

Fairfull first appeared in the Downing Centre Local Court on 8 November 2024. “Mr Fairfull first appeared in the Downing Centre Local Court on 8 November 2024,” the press release confirmed. The case has been committed to the Federal Court of Australia for a first case management date on 17 November 2025. “The matter was committed to the Federal Court of Australia on 17 November 2025 for a first case management date,” the press release indicated. The prosecution is being conducted by the Office of the Director of Public Prosecutions (Cth), following a referral from ASIC. “The matter is being prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP) following a referral from ASIC,” the press release concluded.