In a previous article, I wrote about fake ads on Facebook and how scammers abuse trusted social media platforms to push fraud at scale. The “Nomani” investment scam shows just how far that problem has progressed, driven by AI-generated deepfake technology.
The Nomani campaign first surged in December 2024 and expanded rapidly in late 2025. Fraudsters created realistic video testimonials using AI to impersonate well-known public figures. Reports and takedowns tied to this campaign have included deepfake videos portraying figures such as Elon Musk and Martin Lewis, among other recognizable business and finance personalities. In these videos, the fake spokesperson appears to personally endorse a trading platform called “Nomani,” often claiming it is a proven or insider investment opportunity with unusually high returns. The platform itself does not exist.
These ads are commonly delivered through YouTube and Facebook as sponsored content. They blend naturally into users’ feeds and link to professional-looking websites that mimic legitimate investment services. Victims are shown fake account balances, fabricated profits, and urgent prompts to deposit money quickly before the opportunity “closes.”
What makes the Nomani scam especially alarming is its scale. ESET, a global cybersecurity firm known for researching malware, phishing, and online fraud, reported blocking more than 64,000 unique URLs connected to this single campaign. That volume highlights how criminals use automation and generative AI to constantly rotate domains, ads, and videos to stay ahead of takedowns.
This mirrors the warning from my earlier article on fake Facebook ads. Social media provides reach and credibility, while AI supplies instant fake authority. The result is industrial-scale fraud that looks increasingly believable.
The warning signs remain consistent. Be skeptical of investment ads on social media, especially those using celebrity endorsements, urgency, or guaranteed returns. Legitimate investments do not rely on viral videos or borrowed fame.