An 86-year-old Canadian widow lost nearly $1 million after scammers used an AI-generated video of Prime Minister Mark Carney to promote a fake cryptocurrency opportunity.
The deepfake investment scam began with a social media advertisement asking for an initial investment of only $350. Over several months, the criminals persuaded the victim to empty her retirement savings, mortgage her home, and borrow from her credit card.
The case highlights how criminals use artificial intelligence and trusted public figures to make financial scams appear legitimate.
Fake Video Impersonated Canada’s Prime Minister
Ontario resident Judy Skene first encountered the scam through an advertisement on Facebook in July 2025.
The ad included what appeared to be a video of Canadian Prime Minister Mark Carney. In reality, criminals had used AI to make it look and sound as though Carney supported the investment.
The video encouraged viewers to invest $350 in a cryptocurrency scheme. It also falsely suggested that the Bank of Canada backed the opportunity.
Skene believed the advertisement was genuine and made the initial payment. However, the small investment became the first stage of a much larger fraud.
Neither Mark Carney nor the Bank of Canada had any connection to the scheme.
Scammers Gained Access to Her Computer
After Skene responded to the advertisement, the scammers sent her a link. When she opened it, they reportedly gained remote access to her computer.
The criminals then searched the device and discovered information about her finances. This included details of her retirement savings and other investments.
They presented themselves as financial professionals and encouraged her to continue investing. Meanwhile, a fake online platform appeared to show that her money was producing strong returns.
The figures on the screen were not real. Still, the apparent profits helped the criminals build trust and demand larger payments.
Widow Emptied Her Retirement Savings
The deepfake investment scam continued for several months. During that time, the criminals persuaded Skene to withdraw around $650,000 from her retirement income fund.
They also convinced her to place a $300,000 mortgage on her condominium. In addition, she took a $35,000 cash advance from her credit card.
Altogether, the transactions pushed her losses close to $1 million in Canadian currency.
The scammers claimed she could earn $40,000 per month in dividends if she continued investing. They also told her that larger payments would produce greater returns.
However, no genuine investment existed. The criminals simply took the money.
Criminals Told Victim to Keep the Investment Secret
The scammers reportedly pressured Skene not to discuss the opportunity with friends or family.
They claimed other people would become jealous when they learned how much money she was earning. This tactic isolated her from anyone who might have recognized the warning signs.
A local bank branch warned Skene that she was likely dealing with fraudsters. Nevertheless, the scammers had already convinced her that the scheme was legitimate.
Her longtime friend discovered the situation in March 2026. By then, Skene had lost her savings and taken on significant debt.
Her mortgage payments, condominium fees, and credit card payments later began to fail. She also lost her car.
Police and financial institutions are investigating the case.
Deepfake Scams Are Becoming More Common
The Canadian Anti-Fraud Centre says criminals increasingly use AI-generated videos and audio recordings in financial scams.
Fraudsters often impersonate politicians, government officials, celebrities, financial experts, and business leaders. Their familiar appearance can make a fraudulent advertisement seem trustworthy.
Since 2022, Canadians have reported more than $1.2 billion in investment fraud losses. Cryptocurrency schemes account for most of the reported amount.
However, reported figures may represent only part of the total damage. Some victims never contact the authorities because they feel embarrassed or believe their money cannot be recovered.
Warning Signs of Cryptocurrency Fraud
Fake investment platforms often promise high returns with little or no risk. They may also pressure victims to act immediately before an opportunity supposedly disappears.
Other warning signs include:
- Unexpected investment advice on social media
- Celebrity or political endorsements
- Requests to buy or transfer cryptocurrency
- Promises that a small payment will generate huge profits
- Contact from an unknown online investment adviser
- Requests to install remote-access software
- Demands for additional fees before allowing withdrawals
- Instructions to hide the investment from relatives or banks
Legitimate financial advisers should be independently verified. Consumers should not rely on contact information provided inside an advertisement.
AI Videos Should Not Be Treated as Proof
A realistic video no longer proves that a person made a particular statement. AI tools can reproduce faces, voices, and speaking patterns with increasing accuracy.
Therefore, users should verify financial endorsements through official government, company, or regulatory websites. They should also search for independent warnings before transferring any money.
Remote access creates another major risk. Users should never install screen-sharing software at the request of an unknown investor, broker, or support agent.
The deepfake investment scam that targeted Skene began with a modest $350 payment. Yet it eventually cost her almost everything she had saved, showing how quickly AI-assisted fraud can escalate.
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