Celebrity investment scams: how they work and how to spot them
If you have seen an ad on Facebook, Instagram or YouTube where a well-known TV presenter, entrepreneur or even a government minister “reveals” a platform to get rich, it is almost certainly a scam. It is one of the most widespread fraud techniques in Europe, the Americas and beyond, and every week we detect dozens of new platforms using it.
How it works, step by step
1. The ad. It starts with a social media ad showing a famous person from your country and an eye-catching headline: a supposed interview, a “controversy” on live TV or breaking news. Increasingly, these are AI-manipulated videos (deepfakes) in which the celebrity appears to really be speaking.
2. The fake article. Clicking takes you to a page that imitates a well-known newspaper. It tells an invented story: the celebrity supposedly revealed an “automatic system” that makes money from crypto or stocks, and the banks want to hide it.
3. The sign-up form. At the end of the article there is a form asking for your name, email and phone number, usually with a “minimum deposit” of around 250 €/$/£.
4. The call. Within hours a “financial advisor” calls you. It is a professional call centre. They guide you through the first deposit and often ask you to install software such as AnyDesk “to help you”.
5. The broker. Your money ends up with an unlicensed broker. You will see a dashboard with spectacular profits, but the numbers are made up.
6. The final trap. When you try to withdraw, “taxes”, “fees” or “verification deposits” suddenly appear. Each payment leads to another. You never get anything back.
Why they use celebrities
Because it works. A familiar face creates instant trust, and the “news article” format makes it look like information rather than advertising. Scammers adapt the celebrity to each country: a TV host in Spain, a journalist in Italy, a finance expert in the UK, a minister in Argentina.
No celebrity promotes investment platforms in ads like these. Many of those impersonated have publicly denounced the use of their image. You can browse the celebrities we have seen in these ads in our list of impersonated celebrities.
Warning signs
- A celebrity recommends an investment platform in an ad or “news story”.
- It promises fast, guaranteed or “automatic” profits.
- The name sounds high-tech: “AI”, “Quantum”, “Bot”, “GPT”, “Trader”.
- You are asked for a small initial deposit (around 250) to “get started”.
- You receive insistent calls from foreign numbers.
- You are asked to install remote-control software.
- The platform is not on your country’s financial regulator register.
How to check a platform
- Search its name on InvestRedFlags. Use the search box on the home page. If it is listed, do not sign up.
- Check your regulator’s register. No company can legally offer investments without authorisation.
- Distrust positive reviews. Scammers publish fake reviews and “is it legit?” pages claiming the platform is safe.
If you have already signed up or paid
Act fast: call your bank, do not pay anything else and report it. The detailed steps are in our victim guide. And be wary of anyone offering to recover your money: that is the second scam.