This week I am joined by Peter Komolafe who some of you may also know as Conversation of Money. Not only does my guest have an interesting life story, as Peter turned his life around from foster care and homelessness to become part of an executive team of a multinational Fortune 100 company in London.
Peter also has expert financial knowledge when it comes to investment management, with over sixteen-years working in the industry Peter has been helping and teaching people about money via his podcast and Youtube channel.
We discuss social media influencers who promote forex trading scams/investments, Crypto Eats, digital currency, government regulations and more.
Thank you for listening I hope you enjoy and please don't forget to give my podcast a rating.
The recent Crypto Eats scam was an elaborate operation undertaken by criminals who have yet to be identified and named. The scammers paid U.K influencers including DJ Charlie Sloth to promote Crypto Eats on their social media platforms. These so-called celebrities described the new business start-up as Uber Eats next biggest rival.
In one swift move, the developer of the scam company Crypto Eats transferred £500,000 in Binance Coin into dozens of different crypto wallets. The start-up completely disappeared from the internet, its heavily promoted, highly promised app never got released. All social media accounts linked to Crypto Eats are gone.
The scam has raised even more calls of concerns around the promotion of financial scams on social media, which are being promoted by influencers who are being paid to scam their followers. Whether aware of it or not, due diligence is not done. Influencers have been coming out to apologise for their part in the scam.
Forex trading programmes and money muling are an issue as many vulnerable people fall for, the fake luxury lifestyle and claims of fast money and success that these gurus promote. The regulations around how and why these scammers are still allowed to operate need to be reviewed. It seems like a crime that is done in broad daylight, and it is just accepted.
By
Ebun Felicity Hargrave
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