AG Nessel Warns of Investment Scams on Meta Platforms

Michigan Attorney General issues alert about fraudulent schemes proliferating on Facebook, Instagram, and WhatsApp

Apr. 14, 2026 at 5:53pm

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An extreme close-up of a cracked and damaged cryptocurrency coin, its surface reflecting a harsh, direct camera flash against a pitch-black background, conceptually representing the financial risks of fraudulent investment schemes.As investment scams proliferate on social media, a damaged crypto coin reflects the harsh reality of the financial risks consumers face.Lansing Today

Michigan Attorney General Dana Nessel is warning residents about the prevalence of fraudulent investment schemes, including 'pump and dump' scams and confidence scams, spreading across Meta's social media platforms like Facebook, Instagram, and WhatsApp. Scammers are using deceptive ads and 'deepfake' technology to lure investors into high-stakes scams that drain their savings.

Why it matters

Social media has become a breeding ground for investment fraud, making it increasingly difficult for consumers to distinguish legitimate opportunities from sophisticated scams. This alert aims to educate the public on common tactics used by scammers and provide tips to help protect personal information and savings.

The details

In 'pump and dump' schemes, scammers lure victims into investment groups, hype up the price of cryptocurrencies or low-priced stocks, then sell at the inflated price, leaving victims with major losses. In confidence scams, fraudsters develop trust with victims and convince them to 'invest' in fake trading platforms that ultimately drain their money. Scammers often use deceptive ads featuring well-known figures, pressure tactics, and requests to move conversations to encrypted messaging apps to avoid platform moderation.

  • Attorney General Nessel issued the investor alert on April 14, 2026.

The players

Dana Nessel

The Attorney General of Michigan who issued the investor alert.

Meta

The parent company of Facebook, Instagram, and WhatsApp, where the fraudulent investment schemes are proliferating.

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What they’re saying

“Social media has become a breeding ground for fraudulent ads, making it hard to separate legitimate investments from sophisticated scams. By recognizing the red flags and staying vigilant, you can help protect your personal information and savings.”

— Dana Nessel, Attorney General of Michigan

What’s next

Attorney General Nessel encourages anyone who may have been a victim of these types of scams to report the incident to her office.

The takeaway

This alert highlights the growing threat of investment fraud on social media platforms, underscoring the importance for consumers to thoroughly research any investment opportunity, be wary of high-pressure tactics and unrealistic promises, and consult trusted financial advisors before making any investment decisions.