Katie Price fans conned out of thousands of pounds after she promoted rogue trader
KATIE Price fans were conned out of thousands of pounds after the star promoted a rogue trader on Instagram.
The model, 43, was paid to tell her 2.6million followers about currency “whiz” Josh Chandler.
Kate Dalrymple, 40, a nurse from Newcastle upon Tyne, says Katie should pay back £825 — nearly a month’s wages — that she lost.
“Josh” guaranteed her £1,250 if she transferred £100. She sent the cash and was then told to pay a “release fee” of £725 — and told she’d get over £4,000.
Kate says she lost almost all her £1,140-a-month salary. She has reported the scam to Action Fraud and at least five others were tricked.
Katie Price’s team said the TV personality had no idea it was a scam and that she too had been deceived.
She told The Sun: “I feel so stupid. But I was always a fan of Katie’s. I thought she was a good mother and related to her.
“I used to defend her when she’d get stick, and couldn’t understand all the bad publicity she got.
“Now I feel so let down and embarrassed. How could she put her name to this?
“I saw her post Instagram stories praising this man, and just thought it couldn’t be a scam.
“She encouraged her fans to follow him, so I did.
“My bank, Lloyds, even called me to flag that it looked like fraudulent activity but, again, because Katie Price had endorsed it, I told them it was genuine.
“I messaged Katie once I realised what had happened but she didn’t reply. I’m devastated — and disgusted by her behaviour.”
On at least two occasions Katie went on Instagram Stories to praise Chandler, urging others to invest their money to make a “safe income”.
I feel so let down and embarrassed. How could she put her name to this?
Kate Dalrymple
Katie is believed to have received around £3,000 per post.
In a post last month Katie said: “Hey guys, so I want to tell you about a friend of mine called Josh.
“He’s amazing at what he does. And you may have heard about him or seen him on other media sites, if you’re interested in securing a new, safe income . . . ”
Yet neither “Josh” nor Katie follow one another on social media.
Lloyds are investigating but believe they will not be able to retrieve Kate’s £825. She stopped short of paying him another £1,400.
In an initial exchange of messages, she was asked to give her bank details, birthdate and copy of her driving licence to open an account on crypto.com.
From here Kate, who has a son aged four, was repeatedly asked to transfer increasing amounts.
At one point, in messages seen by The Sun, Kate asked “Josh” to promise this wasn’t a scam, adding “because I will die otherwise”.
He replies: “Katie Price does not promote fraud.”
‘FREE PASS’ FOR SCAMMERS
In other exchanges, he refers to Kate as “dear” and “darling”, before reassuring her about the legitimacy of volatile forex markets.
However, after Kate demanded to know where her money was, and whether “Josh” was really based outside the UK, he turned nasty.
After calling her on Instagram, he issued her with a vile threat to her son, before messaging her: “Clearly u deserve to be scammed you racist motherf****r”. Kate has now blocked the account.
It is prohibited to post sponsored content on social media without disclosing it. And the Advertising Standards Authority says influencers and stars should declare all financial arrangements, using the hashtag #ad.
Katie failed to declare she was being paid in her posts.
Forex traders speculate whether one currency’s value will go up or down in relation to another.
However, if investors use an unauthorised firm they won’t have access to the Financial Ombudsman Service or Financial Services Compensation Scheme, so are unlikely to get their money back.
Mum-of-five Katie, once worth £40million, was declared bankrupt in 2019. In April it emerged she still owes £3.2million to creditors.
Six months ago she gave an enthusiastic endorsement to the Instagram page XChloesWorld, an unauthorised FX trader.
After fans complained online, financial authorities requested the removal of the account.
The Financial Conduct Authority (FCA) has repeatedly warned about unauthorised traders using fake media profiles to trick consumers.
Tory Andrew Bridgen said last night: “Social media companies, and the police, need to take a much more proactive approach to investigating and prosecuting scammers. At the moment they appear to have a free pass.”
I’m devastated — and disgusted by Katie’s behaviour.
Kate Dalrymple
Katie has claimed she was unaware of prior warnings from financial authorities.
Her spokeswoman admitted the star had benefited financially but said she had no idea “Josh” was not legitimate. Her management team are investigating.
The spokeswoman said: “Katie would never knowingly engage in a social media endorsement if it were questionable. This recent information has left her devastated.
“It’s not only her loyal supporters and fans who have been deceived but she, herself, is a victim of a professional organisation.
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“Katie is not the only celebrity to have been targeted.”
Chandler did not respond to repeated requests for comment.
The FCA said: “Consumers can protect themselves by checking the FCA Register on our website to see if firms are authorised and by rejecting unexpected offers that sound too good to be true.”
Spot the con
By Daniel Jones, Consumer Editor
IF a money-making scheme seems too good to be true, it probably is — so steer clear.
Unusual investments, or those offering returns that dwarf what a bank offers, are usually scams.
Crooks jump on the latest trends. Many are now pushing Bitcoin or crypto investments. Never send money unless you’ve checked the firm is registered and called them on a number you can trust.
Also, be wary of advice from a celebrity. Fraudsters often mock up fake ads and include famous faces to trick their victims.