19 August 2025

Imposter Facebook pages used to promote WhatsApp investment scam

Scammers are using Facebook pages to impersonate New Zealand financial commentators and business leaders, including Carmel Fisher, Frances Cook, Mike Hosking and Gareth Morgan. These pages use deepfake videos to promote free investment advice WhatsApp groups and encourage victims to invest in fake online investment platforms. 

How the scam works:

  • Scammers create a social media profile impersonating a business leader or notable figure. They publish ads on social media platforms like Facebook and Instagram, often including deepfake videos of the people being impersonated.
  • In these ads, the scammers speak about the business person’s successful investment history. The ads encourage viewers to join an investment advice WhatsApp group.
  • The WhatsApp groups connect victims with an investment ‘mentor’ or ‘coach’ who provides trading tips or recommends stocks to purchase. The groups usually include a large number of fake profiles, which all speak about their success following the mentor’s investment advice.
  • The mentor will often recommend specific low-value shares to the victim, promising high returns. This is a ‘pump-and-dump scheme’. The scammers control large volumes of these shares. They co-ordinate victims’ investments to artificially inflate (or ‘pump’) the share price. They then sell (or ‘dump’) their shares at a profit. When the share price collapses, victims are left with significant losses.
  • The mentor may introduce and recommend an investment platform to the victim. The scammers will coach victims through the process for setting up an account and transferring funds. The scammers often request cryptocurrency payments.
  • The scammers may instruct victims to install software on their devices. This is malware or remote access software which will give the scammers access to the victim’s sensitive information.
  • When the victim tries to withdraw their investment, they are told they need to pay a fee before their funds can be released. Even if these fees are paid, no money is paid out.

If you come across these ads or investment platforms, do not click on them and don’t give them your personal information. 


Related warnings

This scam often involves a ‘pump-and-dump’ scheme, involving the artificial manipulation of share prices. For details, see our warning here:

Investment advice group chats used in suspected pump-and-dump schemes

This scam is an evolution of a WhatsApp investment scam which we have warned about in the past. See our warning here:

WhatsApp educational and investment platform scam

What to do if you think you have been scammed

  1. Stop all contact with the scammer and do not send any money. Report the group to WhatsApp and block the scammer on all devices. 

  2. Contact your bank immediately. Ask if a transaction reversal is possible. If you sent money using another payment service provider, ask them to trace the funds.

  3. Report any fake Facebook profiles or ads to Meta.

  4. If you are getting spam emails and text messages, report these to the Department of Internal Affairs.

  5. Tell a trusted relative or friend what has happened. They may help you see the situation more clearly, help you deal with the scammers, and suggest what to do next.

  6. Contact Victim Support on 0800 842 846 or visit their website. They can provide free emotional and practical support and information.

Imposter Facebook pages:

Person/organisation being impersonated

Fake Facebook pages

Date added to warning

Mark Brighouse (Fisher Funds)

Mark Brighouse

10 October 2025

Simplicity NZ

Simplicity

9 October 2025

NZX/Shane Solly

 

Amiee Vigil

9 October 2025

Appliance Pro

9 October 2025

Craigs Investment Partners

Craigs Investment Partners

25 September 2025

Brooke Roberts

Roberts & Co.

21 August 2025

Brocircle

22 August 2025

Brookestone Insights

25 September 2025

Financial Pioneer

25 September 2025

Miss Business

20 August 2025

Mark Lister (Craigs Investment Partners)

 

 

 

 

 

Mr. Markets

22 August 2025

Mark Lister

5 September 2025

Mcallister Bitter Varney

29 August 2025

Marlon Russell

9 October 2025

Stephen Poppet kolepit 4030

9 October 2025

Tim Larson

9 October 2025

Madison Malone

Madison Malone

22 August 2025

Forsyth Barr/Shane Solly

Shane Solly.go

9 October 2025

Shane Solly (Harbour Asset Management)

 

 

 

 

 

Shane Solly

22 August 2025

William Perez45

10 October 2025

Daily Domestic Solutions

10 October 2025

Dan Patesel

10 October 2025

Tony Cox

10 October 2025

Constance Fowler

9 October 2025

Joy Johnson

9 October 2025

Lars Tvede

9 October 2025

Lili Reinhart

9 October 2025

Sabrina DePeter

9 October 2025

Will Goodwin

Invest with Goodwin

22 August 2025

Mary Holm

Mary Holm

21 August 2025

Scott Pape

Scott Pape

21 August 2025

Gareth Morgan

No-Nonsense Morgan

21 August 2025

Morgan Investing

19 August 2025

Simon Tong

Simon Tong's insights

19 August 2025

Carmel Fisher

Invest with Carmel

19 August 2025

Frances Cook

Invest with Frances

19 August 2025

Mike Hosking

Mike Hosking's insights

19 August 2025