Investment Scams: The Hidden Network Behind Fake Celebrity Endorsements

Behind supposedly reputable investment platforms that promise high profits, there is often a perfidious network of fraud hidden. Especially in Switzerland, people lose a lot of money due to these fraudulent scams . Research by SRF Investigativ shows that the threads of this network reach all the way to Cyprus and form a frighteningly sophisticated system.

How a Swiss motorcycle mechanic became a victim

Stefan Boss, a motorcycle mechanic from the Bernese Seeland, lost 21,000 francs to a platform called InvesaCapital that promised him realistic returns. What initially looked like a legitimate investment opportunity soon turned out to be a sophisticated scam. “It was hard-earned money, and sometimes I wonder how I could have been so naive,” says Boss. Like many others, he became aware of the platform through fake celebrity endorsements. These suggested that celebrities such as Stefan Büsser , Roger Federer and Christa Rigozzi supported such investments - an illusion that brought ruin to many gullible investors.

The structure of the network: How celebrity advertising springs the trap

The network behind the platforms works with fake articles that supposedly come from reputable Swiss media companies. This fake news leads potential investors to fraudulent websites that offer promising investments. After registering, you will be contacted by phone and pressured to deposit amounts of money, which ultimately result in a total loss. What looks like a lucrative investment opportunity is actually a highly speculative financial bet over which investors have no control.

The dark side of the supposed profits

Many of those affected report that they appeared to have made high profits at the beginning of their investment. But when it came time to pay out the winnings, the promises turned out to be empty words. The supposed brokers on the phone use manipulative techniques to pressure their victims into making further deposits, while no real trading activity takes place in the background. Instead, these are pure bets where the investor has no chance of winning from the outset.

Criminal charges and difficulties in prosecution

Dozens of criminal complaints have already been received in German-speaking Switzerland in connection with these fraudulent platforms. The damage amounts often amount to several tens of thousands, in individual cases even over a hundred thousand francs. But the perpetrators, who mostly operate abroad, evade prosecution. The authorities are often powerless because those responsible cannot be identified and the proceedings are therefore dropped.

The shocking extent of the fraud

According to the network for digital investigation support in the area of ​​cybercrime ( NEDIK ), 142.6 million francs were stolen via such rip-off platforms in Switzerland last year alone. However, this sum is just the tip of the iceberg; the number of unreported cases is estimated to be much higher. Many victims are ashamed of having fallen for such a scam and therefore refrain from reporting it.

A network that never sleeps: new platforms are constantly emerging

SRF Investigative has identified seven almost identical platforms: Inefex, InvesaCapital, InvestMarkets, ForexTB, OBRInvest, Investous and 24Option. These platforms use identical text modules, a similar design and are linked to each other in the Cypriot commercial register by recurring names. Despite negative reporting and investigations, the network appears to be continually launching new sites and phasing out old platforms.

The 24Option case: A cautionary tale

The 24Option platform, which was an official partner of the Juventus football club, is a prime example of the network's approach. According to investigative research by ARD, house searches and arrests were made. Two members were convicted in Germany of commercial fraud. But despite these successes, many people behind the crime remain unpunished and continue their criminal activities under new names.

The role of KC Firiakis Services Ltd.

A central company in this network appears to be KC Firiakis Services Ltd. to be in Cyprus. Former employees describe that this company is responsible for building and managing the fraud platforms. Although KC Firiakis Services Ltd. denies any connection to the fraudulent platforms, personnel overlaps and public company registers indicate deep involvement in the network.

How to protect yourself from investment fraud

1. Be careful with tempting offers: If an investment offer sounds too good to be true, it probably is. Reputable investment platforms will never promise guaranteed profits or urge you to invest quickly. Check the platform's license with a recognized financial regulator and research reviews and testimonials.
2. Don't let yourself be put under pressure: Reputable providers give you time to decide and don't put you under pressure. Be particularly careful if you are pressured into making further deposits after an initial deposit.
3. Avoid transferring money to unknown companies: Never transfer money to companies you don't know. Use well-known and secure payment methods that allow chargebacks.
4. Get independent advice: Before investing, seek advice from independent financial advisors or trusted institutions. They can often better assess the seriousness of an offer.
5. Beware of social engineering and phishing: Fraudsters often use techniques such as social engineering or phishing to obtain your personal information. Do not disclose sensitive information and check suspicious emails and messages carefully.

Legal action and help for victims

1. Document all transactions: If you suspect that you have been a victim of fraud, you should document all transactions and communications with the platform. This can be helpful later in legal action.
2. Contact your bank: Contact your bank immediately to check the possibility of a chargeback. In some cases, credit card companies offer the option to reverse fraudulent transactions.
3. Make a report: Report the incident to the police and file a report. The more victims come forward, the greater the chance that the perpetrators will be held accountable.
4. Get legal advice: Get legal advice to review your options and plan your next steps. There are lawyers who specialize in such cases and can help you.

The global dimension of fraud

Investment fraud is a global phenomenon that claims victims in many countries. Particularly affected are regions with high internet penetration and a large number of wealthy citizens looking for lucrative investment opportunities. Countries such as the US, UK and Germany have similar fraud networks that operate in a similar manner. International cooperation and coordinated action by law enforcement authorities are therefore essential to dismantle these criminal structures.

Psychological impact on victims

For many of those affected, it is not just the financial loss that is stressful. The shame of having fallen for a scam can lead to significant psychological problems. Many victims report insomnia, anxiety and a deep loss of confidence. It is important that victims do not isolate themselves, but rather seek support - be it through psychological counseling, self-help groups or exchanges with other affected people.

Questions and answers: What investors should know

How do I recognize a fake investment platform?
Fake platforms often advertise celebrities to create trust. If you come across such an advertisement, check the source carefully. Reputable investment platforms will never promise guaranteed profits or pressure you into making quick investments. Be skeptical of overly attractive offers and check the reviews and legal background of the platform.

What should I do if I have already invested money?
If you believe you have been the victim of a scam, act quickly. Document all transactions and communication with the platform. Contact your bank immediately and try to reverse the transfer. You should also file a police report and seek legal advice.

Can I get my lost money back?
Unfortunately, it is often difficult to get the lost money back, especially if the perpetrators operate abroad. In some cases, banks and credit card companies can help, but success is not guaranteed. It is important to report such incidents to the authorities to prevent future scams.

How do perpetrators protect themselves from prosecution?
The perpetrators behind such platforms often operate from countries that do not work cooperatively with the Swiss authorities. They use nested company structures and constantly change their websites in order to remain intangible. This makes it difficult for law enforcement to take action against them.

Are there safe alternatives for online investing?
Yes, there are many reputable platforms for online investments. Make sure the platform is regulated by a recognized financial regulator. Reputable platforms place great value on transparency, customer support and information about the risks of investments. Avoid platforms that promise excessive profits or appear unprofessional.

Conclusion: Stay vigilant and take responsibility

The exposure of this network shows how complex and dangerous the world of online investing can be. Investors must be particularly vigilant and be well informed before investing their money. Despite the sophisticated methods used by scammers, there are ways to protect yourself. If you pay attention to suspicious signals and examine potential offers carefully, you can avoid becoming a victim of such schemes.

Remember: If an offer sounds too good to be true, it probably is. Protect yourself and others by reporting scams and remaining vigilant.

Source: SRF

Subscribe to our newsletter to stay up to date. Also explore our extensive media education offering .