Deepfake cryptocurrency scammer beats Welsh pensioner for £60,000

A vulnerable pensioner in Wales has lost around £60,000 in a cryptocurrency scam using a deepfake video from Money Saving Expert founder Martin Lewis. Adrian Carney, 71, a pensioner suffering from the early stages of dementia, fell into huge debt after being fooled by a fraudulent investment ad on Facebook.

Mr Carney, a great-grandfather from Swansea, was tricked into giving control of his mobile phone to a fraudster. After taking control, the scammers took out several loans in his name and then drained his bank account.

The Welsh pensioner told the scammers about his weakened lungs and arthritis, but claimed they still praised his “resilience” and encouraged him to continue. After withdrawing around £58,400 from Barclays and Monzo bank accounts, the scammers, claiming to be money management companies, stopped responding to messages.

Welsh pensioners lose money to deepfake crypto scammers

The Welsh pensioner spoke out about the incident. “I was heartbroken and felt really bad. I’m not a very good person. I just wanted to curl up in a ball and die, like death had warmed up a little bit. I was a fool. They say fools and their money will be let go soon. I went along with it thinking I was going to end up like Rockefeller, so I feel like this is all my fault.”

Martin Lewis always reiterated to his followers and the public not to be fooled by advertisements or websites that feature him. “Look at the ads I appear in. I’m not talking about cryptocurrencies. I’m not advertising or investing,” he said.

However, the fraud resulted in Mr Carney paying back more than £1,000 a month in loans to five different lenders. The Welsh-born man had a career in forensic science but is now turning to lawyers from the National Fraud Helpline to help him get his cash back from banks.

Banks also face some regulatory issues related to how to protect users from fraud.

“This is a particularly sad case of fraudsters taking advantage of someone they knew was vulnerable. We are now seeing AI being used for all kinds of fraud. Fraudsters are using Martin Lewis’ image because they know consumers respect him and will listen to his advice,” said Fiona Bresnen, a solicitor at the National Fraud Helpline.

Pensioner details scammer’s methods

Mr Kearney said his nightmare began earlier this year after he fell victim to the promise of handsome monthly returns on a modest initial investment of £200. “I knew about AI, but this video of Martin Lewis looked completely real,” he explained.

He said the opportunity was a way to raise extra funds for a holiday with his wife Ruth to visit friends in Thailand. He said he was sent a link, clicked on it, and was contacted by someone claiming to be a financial advisor.

“He asked me if I had £10,000 and I said ‘no’,” he said, noting that the person had said he had obtained a bank loan that could be used to buy digital assets and that he would pay it back within 30 days.

A pensioner in Wales claimed his adviser persuaded him to install AnyDesk on his mobile phone, and that the application allowed fraudsters to take control of his device.

After taking control, he began taking out a series of loans. The funds were transferred from the Barclays account to a Revolt account that the scammer encouraged them to open. Funds that appeared to have been used to purchase digital assets quickly disappeared from the account. “I was just a puppet and someone else was pulling the strings,” he added.