XTradeMAX and AI
Richardson Hartley Law has already helped victims of XTradeMAX to recover money.
Many victims have lost hugely significant sums of money that has a financially devastating effect on their lives.
A large number of victims appear to have first come across the online platform after seeing social media adverts by well known figures appearing to recommend using the platform for another investments.
These adverts were, in fact, AI generated. In particular, there was a deep fake video of money guru Martin Lewis apparently recommending investments.
Many people were led into the online platform via this route.
The fraudsters sometimes persuaded victims to allow them to take over their electronic devises which gave them access to their bank accounts.
They would often then take out loans in the victims’ names which would be used to create more investment funds for the platform.
Sadly, this has mean that many victims are now saddled with monthly loan repayments on top of losing their original investment money.
Sometimes we can persuade banks to put the loan payments on hold while the fraud reimbursement case in investigated.
The fact that the FCA has warned people not to deal with the online platform is very helpful to our clients’ cases.
Martin Richardson, senior partner at Richardson Hartley Law, said: “The use of AI, as seen in this scam, is becoming increasingly prevalent.
“We are keen to continue to help investors to recover their money.”
Richardson Hartley Law offers low no, win no fee rates with capped fees.
We are keen to hear from anyone who may have lost money through XTradeMAX.