On Instagram, reality TV stars are spreading money scams

On Instagram, reality TV stars are spreading money scams

Financial scams, which are especially numerous on social networks, often target a young audience. Reality TV celebrities are now their livelihood.

Financial scams, powered by social networks, are becoming increasingly popular. Influencers, mostly reality TV, are no strangers to this. scan newspaper 20 minutes It reveals how easy it is to steal from their very small audience, sometimes in large sums.

By the Directorate General of Competition, Consumer Affairs and Fraud Prevention (DGCCRF), there is a “worrying rise” in deceptive business practices “particularly by influencers,” the organization explains. 20 minutes.

Celebrities, often reality TV shows, are already a certain number to switch to different businesses, under fairly transparent partnerships, often leading to scams.

“Passive Investments”

Among the influencers identified by the survey 20 minutesJulian Burt, seen on The Angels of Reality TV, invites his subscribers to engage in trading with “passive investments,” promising huge sums at stake.

The influencer started her own business, “Wolf Investing”. In promotional videos posted on Instagram, Julianne Burt doesn’t lack prose to bite the hook.

“It’s not the money you make or can make, it’s the money you lose by watching this video. You will continue to lose if you don’t join the Wolf Investment,” the man explains in one of his videos, since it was removed but moved daily.

as mentioned 20 minutesThese practices involving money are closely scrutinized by the Autorité des marchés financial financiers (AMF). These are online advertisements, as well as financial products.

In fact, Julien Bert offers a passive trading platform, that is, you deposit your money there and expect – in principle – an investment that will fulfill the promises made by the influencer. It does not inform its potential investors of the risks associated with these financial practices, which are considered illegal.

smoke screen

“It is appropriate to question the financial skills of those people who present themselves as experts, and the honesty and impartial nature of these prescriptions, whose motivated nature is not always clearly indicated,” the AMF notes. 20 minutes.

And these alerts are well established: the company that Julian Burt founded has simply disappeared since the survey was published.

One of the victims called him 20 minutes Thus it indicates that he deposited, in the first place, small sums out of prudence. Once you are confident – after the first ROI, you take the lead and deposit larger amounts.

At this time the platform contacted her: the site was allegedly hacked and the money was lost with him. He was even told that the FBI was “doing what was necessary.”

Since then, the promotions posted by Julian Burt have disappeared from social networks. The influencer pointed out the opposite on a daily basis, explaining that these are nothing but “ephemeral stories.”

Also quoted by 20 minutesIn this article, we found the Blata couple, an influencer duo who went to live in Dubai. The latter launched a trading platform on Telegram Secure messaging. This is the so-called “copy trading” platform: this practice consists in reproducing investments and hiring experienced traders. Like Julian Burt, influencers do not identify the risks associated with these practices hidden behind catchy and seductive phrases.

In the same vein, former reality TV star Nabila Benatia was fined €20,000 for “deceptive commercial practice”, while she was promoting a trading site on the social network Snapchat. She did not clearly indicate that she was paid for the operation, nor did she indicate the potential risks to Internet users.

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