Incident 655: Scams Reportedly Impersonating Wealthy Investors Proliferating on Facebook

Description: Scams are reportedly proliferating throughout Facebook impersonating wealthy individuals such as Bill Ackman, Cathie Wood, Steve Cohen, Peter Lynch, and Ray Dalio. In some cases, it seems deepfake technology is being employed, while simultaneously Facebook's own AI systems are allegedly faltering in their ability to halt the spread of these fraudulent ads despite being reported.


New ReportNew ReportNew ResponseNew ResponseDiscoverDiscoverView HistoryView History
Alleged: Meta and Facebook developed an AI system deployed by Meta , Facebook and scammers, which harmed Investors , General public , Bill Ackman , Cathie Wood , Steve Cohen , Peter Lynch , Ray Dalio and Peter Bourget.

Incident Stats

Incident ID
Report Count
Incident Date
Daniel Atherton
Phony Billionaires on Facebook Are Scamming Americans Out of Their Life Savings · 2024

Bill Ackman is fighting a losing battle against Bill Ackman. Impostors posing as the billionaire hedge-fund manager on Facebook keep luring hapless investors into stock-market scams—and the real Ackman has been powerless to stop them.



A "variant" is an incident that shares the same causative factors, produces similar harms, and involves the same intelligent systems as a known AI incident. Rather than index variants as entirely separate incidents, we list variations of incidents under the first similar incident submitted to the database. Unlike other submission types to the incident database, variants are not required to have reporting in evidence external to the Incident Database. Learn more from the research paper.