Instagram scam news: Bogus investment scheme frauding people out of £17,000 | Personal Finance | Finance

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He told the BBC: “At first I put in £1,000 and once I saw I was getting money I deposited a bit more and more. In the end, I was scammed out £17,000.”

Jonathan met a man on the app and was enticed by his rose gold Maserati, next to which the scammer posed with his pet goat led by a harness in an image obtained by the BBC.

Jonathan said: “I was following this guy on Instagram and he always posts with his car, a rose gold Maserati, saying that he’s rich and self-made and really young, he’s only 21.”

This stranger appeared to be living quite the lifestyle.

He told Jonathan he would train his money and return riches to him. Jonathan was given access to trading platform Infinox, where he saw his initial investment rise and invested more.

However, after a few months, his stock plummeted.

READ MORE: Scam warning: How investment fraudsters are adopting THESE tactics to target over-55s





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