Instagram ad led Sydney dad to pour $77k into fake investment firm
The Sydney dad believed he was investing in cryptocurrency, stocks and even gold with the hopes of buying a home.
Opening excerpt (first ~120 words) tap to expand
Paid advertisements used to promote fraudulent investment platforms on social media, warns ASICBy Tamsyn BuckleTopic:Scams and Fraud30m ago30 minutes agoTue 28 Apr 2026 at 8:31pmThe Sydney dad believed he was investing in cryptocurrency, stocks and even gold with the hopes of buying a home. (ABC News: Abubakr Sajid)abc.net.au/news/nsw-fake-crypto-investment-advertisements-on-social-media/106582552Link copiedShareShare articleSydney father Leo thought he was pouring his money into investments that would one day help him buy a house.While scrolling on Instagram in September, Leo, whose name has been changed for privacy reasons, came across a paid advertisement for PrimeUPartner spruiking what he believed to be a legitimate high-yield investment platform.After reading a few reviews online,…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).