An Indonesian agriculture tech startup that raised hundreds of millions of dollars looks like a giant fraud. The company, called eFishery, reportedly told investors including SoftBank that it had revenue of $752 million for the nine months to September last year when the real value was actually $157 million. That means its income is 75% lower than it presented. You could call it a pescatarian ponzi.

eFishery says its mission is to respond to an increase in global demand for animal protein by modernizing Indonesia’s fishing industry. eFishery develops end-to-end technology for fish farmers, from internet-connected smart feeders to a mobile app where farmers can sell their harvest. Shrimp in particular is very high in proteinand the thought is that Indonesian fish farmers can use modern technology to increase yields and supply the world’s growing population.

Alas, it’s not like many anglers like what eFishery is selling: “While eFishery says it has over 400,000 fish feeders in operation to customers,” Bloomberg wrote, “Initial investigations estimate it to have only about 24,000.” eFishery has been in business since 2013.

Bloomberg it’s still early reported of alleged fish fraud, which came to light after a whistleblower approached eFishery’s board with allegations that its numbers were inaccurate. In addition to the large revenue discrepancy, the company’s management told investors that it made $16 million in revenue in the nine-month period when in fact it lost $35.4 million.

The CEO of eFishery was fired after a board investigation quickly revealed accounting inconsistencies. The investigation is ongoing, according to Bloombergbut it seems that someone will accept the Elizabeth Holmes treatment.

What are the chances that the founders of eFishery got their inspiration from 4chan?

eFishery has lost more than $152 million since its inception, according to the investigation. Fortunately its backers include the likes of G42, an AI firm controlled by the United Arab Emirates. In other words, they will be fine.