Fraudsters Use Fake Endorsements From Prince Harry and Meghan To Promote Scam Bitcoin Investment Adverts

Fraudsters Use Fake Endorsements From Prince Harry and Meghan To Promote Scam Bitcoin Investment Adverts

The Duke and Duchess of Sussex have been used in fake endorsements on social media to promote Bitcoin-related investment schemes.

Fabricated interviews, as well as photos of Prince Harry and Meghan Markle, have been used in online articles falsely claiming the couple has backed schemes related to Bitcoin and cryptocurrency trading.

The story also uses the logos of news brands including the Mail, the BBC, the Sun, Good Morning Britain and the Guardian.

One of the latest fake headlines reads: ‘People earning millions from home by using Harry and Meghan's latest advice’. 

Another said: ‘Harry and Meghan shocked everyone in the studio by revealing how they making (sic) an extra £128k every month’. 

Harry and Meghan are among a string of celebrities – including Bill Gates, Sir Richard Branson and Mark Zuckerberg – being misused in get-rich-quick scams, according to the Financial Conduct Authority. 

It comes as the number of consumers reporting possible scams to the UK’s financial services watchdog has risen by more than 400% in five years. 

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The articles falsely claim that in TV interviews the royal couple backed investment schemes related to Bitcoin.

Fraudsters Use Fake Endorsements From Prince Harry and Meghan To Promote Scam Bitcoin Investment Adverts

A supposed investor is quoted as saying: ‘I let the software run and my profits stacked up like pancakes. It feels incredible having money rush in this fast and hard.’

Another says: ‘My ex-girlfriend dumped me because I was too poor. Now I’m a multi-millionaire and I have an even better girlfriend.’

An FCA spokesperson said: “People should be very wary when they see investment ads offering high returns, even if they appear to be endorsed by celebrities. You can check if a company is regulated by us on the Financial Services register. If it isn’t, you are very unlikely to have any protection if things go wrong. 

“Where potential scam activity takes place outside of our remit, we will involve other law enforcement agencies who may be able to take further action. We have continued to call on the Government to include financial content within the Online Safety Bill.”

Citizens Advice director of policy Matthew Upton said the ‘consequences can be truly devastating.'

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He said: “These schemes are becoming ever-more sophisticated and can leave people feeling incredibly vulnerable and isolated – to the point where they can't even tell their family and friends what has happened.”

Representatives of the Duke and Duchess of Sussex have reportedly been alerted.

 



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