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Fake celebrity investment ads: how the deepfake “get rich” scam works

Saw a famous person in an ad or “news story” backing a trading platform or crypto bot? How fake celebrity investment ads and deepfake videos work, the warning signs, how to check a firm, and what to do if you signed up or paid.

You’re scrolling and see a well-known presenter, business leader or celebrity in an ad or a “breaking news” story, saying they made a fortune with a new trading platform, crypto bot or “AI investing” app. It looks real. The video may even sound like them. It’s a scam. Australia’s Moneysmart says these scams use fake ads, fake news articles, fake celebrity endorsements, AI-generated content and deepfake videos together to look trustworthy (Moneysmart), and the FBI warns criminals use AI-generated video of public figures to promote investment fraud (FBI IC3).

How the fake celebrity investment scam works

  1. The ad. A paid social media or search ad shows a famous face, often with a shocking headline, to get you to click (Moneysmart).
  2. The fake news page. You land on what looks like a real news site, with a story about the celebrity’s “secret” and fake comments from happy investors (Moneysmart).
  3. The sign-up form. You’re asked for your name, email and phone number, often with a small starting deposit.
  4. The calls. A friendly “account manager” rings with a script, and shows you a platform where your balance seems to grow. Some victims even get small profit payments to build trust (Moneysmart).
  5. The money disappears. You’re pushed to invest more. When you try to withdraw, there are new fees, taxes or excuses, and the money is gone.

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Warning signs

  • A celebrity, TV presenter or business leader “backs” an investment in an ad, video or news-style article.
  • High returns with little or no risk, guaranteed profits, or a system that “can’t lose” (SEC, NASAA and FINRA).
  • Pressure to invest quickly, a bonus for acting now, or an offer that’s “exclusive” to you (FCA).
  • The video looks slightly off: lips not matching the words, odd blinking or shadows, or a voice with a strange tone (FBI IC3).
  • They ask you to install a remote access app, open a crypto account, or send money to a person rather than a licensed firm.
  • Withdrawing needs another “fee”, “tax” or “verification payment”.

How to check before you invest

  1. Australia: check the firm is licensed and not on ASIC’s investor alert list, and follow Moneysmart’s check before you invest tips.
  2. UK: use the FCA Firm Checker, and only use the contact details listed there (FCA).
  3. US: check the person or firm on FINRA BrokerCheck (SEC investor alert).
  4. Canada: use the Canadian Securities Administrators’ National Registration Search.
  5. New Zealand: search the Financial Service Providers Register.
  6. Search the platform’s name plus “scam” or “review”, but remember scammers also post fake reviews and comparison sites (Moneysmart).

If you signed up or paid

  1. Stop sending money, even if they say it’s needed to release your profits.
  2. Call your bank or card provider straight away and tell them it’s a scam payment.
  3. If they installed remote access software, uninstall it, then change your banking and email passwords from a different device.
  4. Expect more calls. Hang up on anyone offering to recover your money for a fee (FCA).
  5. Report the ad to the platform (how to report on Facebook), then report the scam (links below).

Where to report

Questions

The celebrity really is famous for investing. Couldn’t it be real?

A celebrity endorsement does not make an investment legitimate. The US SEC, NASAA and FINRA warn against investing just because someone famous says so, and scammers use AI to fake videos and audio of public figures.

The website showed my money growing. Is it working?

Not necessarily. Australia’s Moneysmart says these scams can include fake investment platforms and even small profit payments to build trust, before the money disappears.

They’re asking for a fee or tax to release my profits. Should I pay?

No. Treat any request to pay more to get your money out as a red flag. Stop paying and call your bank.

Someone has offered to recover my money for a fee. Is that real?

Be very careful. The FCA warns that scam victims are often targeted again with offers to get money back for a fee, known as recovery room scams.

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General information only, not legal or financial advice. ImposterWatch is operated by Cloud Investments FZE (UAE) and is not a background check or private investigator service.