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Incident 1256: Purportedly AI-Generated Deepfake Investment Ads Defrauded 5,000 Swedish Investors of 500 Million SEK

Description: At least 5,000 Swedish investors were reportedly defrauded of around 500 million SEK (~$52.5 million USD) in 2025 through purportedly AI-generated deepfake investment ads circulated on Meta platforms. Fraudsters allegedly used fabricated videos and profiles of well-known finance figures such as journalist Gabriel Mellqvist and investor Günter Mårder to promote false stock tips in pump-and-dump schemes.
Editor Notes: Timeline note: The incident ID date of 10/24/2025 reflects earliest Swedish-language report (TV4 Nyheterna), but is subject to change with deeper investigation. Fraud reportedly occurred throughout 2025; specific start date unclear.

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Alleged: Unknown deepfake technology developer and Unknown voice cloning technology developer developed an AI system deployed by Unknown scammers , Unknown fraudsters , Unknown pump-and-dump scammers , Unknown scammers impersonating Gabriel Mellqvist and Unknown scammers impersonating Günter Mårder, which harmed Günter Mårder , Gabriel Mellqvist , Swedish investors , General public of Sweden and Epistemic integrity.
Alleged implicated AI systems: Unknown deepfake technology , Unknown voice cloning technology , Meta Platforms and Social media

Incident Stats

Incident ID
1256
Report Count
4
Incident Date
2025-10-24
Editors
Daniel Atherton

Incident Reports

Reports Timeline

+1
Finansprofiler blir utnyttjade av bedragare: ”Det gör ont”
+1
Small savers defrauded out of half a billion – fraudsters AI-fakes financial profiles
Thousands of small savers in Sweden conned out of millions in AI-powered deepfake investment scams
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Finansprofiler blir utnyttjade av bedragare: ”Det gör ont”

Finansprofiler blir utnyttjade av bedragare: ”Det gör ont”

tv4.se

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Small savers defrauded out of half a billion – fraudsters AI-fakes financial profiles

Small savers defrauded out of half a billion – fraudsters AI-fakes financial profiles

sverigesradio.se

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Savers are being deceived - criticism of Meta: "Great frustration"

Savers are being deceived - criticism of Meta: "Great frustration"

omni.se

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Thousands of small savers in Sweden conned out of millions in AI-powered deepfake investment scams

Thousands of small savers in Sweden conned out of millions in AI-powered deepfake investment scams

sverigesradio.se

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Finansprofiler blir utnyttjade av bedragare: ”Det gör ont”
tv4.se · 2025

Det börjar med ett tips från en till synes trovärdig källa på nätet. Men bakom tipset ligger bedragare som med hjälp av AI har skapat falska profiler.
Investeraren Günter Mårder är en vars identitet har kapats.
-- Det gör ont eftersom det ä…

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Small savers defrauded out of half a billion – fraudsters AI-fakes financial profiles
sverigesradio.se · 2025
AI Translated

AIID editor's note: Please visit the original source for an audio report about this incident.

At least 5,000 small savers have been defrauded of half a billion kronor this year through so-called pump and dump scams on social media.

The scam…

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Savers are being deceived - criticism of Meta: "Great frustration"
omni.se · 2025
AI Translated

The engine of the new wave of “pump and dump” frauds is AI-generated fake profiles that are used to deceive savers on social media. One of those whose identity has been exploited is journalist Gabriel Mellqvist, who believes that companies …

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Thousands of small savers in Sweden conned out of millions in AI-powered deepfake investment scams
sverigesradio.se · 2025

AIID editor's note: Please visit the original source for an audio report.

At least 5,000 small savers have been conned out of a total of half a billion kronor, through so-called 'pump and dump' share scams on social media.

The fraudsters us…

Variants

A "variant" is an AI incident similar to a known case—it has the same causes, harms, and AI system. Instead of listing it separately, we group it under the first reported incident. Unlike other incidents, variants do not need to have been reported outside the AIID. Learn more from the research paper.
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