Description: A retired Ottawa couple, Doug and Victoria Lloyd, lost CA$177,023 after being lured by a purported deepfake video of Elon Musk promoting a fake investment platform. The deepfake allegedly led to prolonged social engineering, remote access to their computer, and fraudulent cryptocurrency transfers. The couple reportedly suffered major financial loss and ongoing debt. Police say recovery is unlikely.
Editor Notes: Timeline of reported events: The incident ID date of 10/01/2023 is an approximation. Doug and Victoria Lloyd reportedly encountered the purported deepfake Elon Musk investment video and submitted their contact information in early October 2023. Over the following weeks, scammers allegedly maintained daily phone contact, escalated demands, and gained remote access to the couple's computer. By late November 2023, the fraud reportedly peaked when the Lloyds attempted a withdrawal and the scammer became hostile. The case was publicly reported on 01/16/2024 by CTV News and once again via a video report on 11/19/2025. The incident ID was created 11/23/2025.
Entities
View all entitiesAlleged: Deepfake technology developers and Synthetic audio generation technology developers developed an AI system deployed by Scammers and Unknown scammer impersonating Elon Musk, which harmed Victoria Lloyd , Investors , General public of Canada , General public , Elon Musk , Elderly investors , Elderly individuals , Doug Lloyd , Canadian investors and Epistemic integrity.
Alleged implicated AI systems: Deepfake technology and Synthetic audio generation technology
Incident Stats
Risk Subdomain
A further 23 subdomains create an accessible and understandable classification of hazards and harms associated with AI
4.3. Fraud, scams, and targeted manipulation
Risk Domain
The Domain Taxonomy of AI Risks classifies risks into seven AI risk domains: (1) Discrimination & toxicity, (2) Privacy & security, (3) Misinformation, (4) Malicious actors & misuse, (5) Human-computer interaction, (6) Socioeconomic & environmental harms, and (7) AI system safety, failures & limitations.
- Malicious Actors & Misuse
Entity
Which, if any, entity is presented as the main cause of the risk
AI
Timing
The stage in the AI lifecycle at which the risk is presented as occurring
Post-deployment
Intent
Whether the risk is presented as occurring as an expected or unexpected outcome from pursuing a goal
Intentional
Incident Reports
Reports Timeline
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Doug and Victoria Lloyd are left searching for answers after the retired married couple was taken for $177,023 through a line of credit.
It all started with an online video of what appeared to be Elon Musk promoting a new investment opportu…
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AIID editor's note: View the original source for the video report.
Doug and Victoria Lloyd lost 177,000 dollars in an investment scam involving a deepfake video of Elon Musk. The Eastern Ontario couple share their story as part of our Spot …
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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