Man distraught after ‘bad judgement call’ saw £100,000 loss online

Cyclist discusses scammers taking over his Instagram account

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On BBC’s Rip Off Britain, a man explained how he feel victim to scam which not only affected him, but caused his followers to lose thousands of pounds. Alex Bosley fell victim to the so-called ‘money flip’ investment scam in November 2021.

After a friend’s glowing endorsement online of the scheme, he ended up sending £200 to the investment company via social media.

The investors contacted him minutes later, telling him he had been chosen to receive a special £20,000 bonus.

But in order for him to unlock it, he would have to pay a further amount -which he did.

Before unlocking this £20,000 bonus, the investors asked Alex to make a video for the company, explaining his experience and how they had helped him double his money.

He had to endorse the scheme, just as his friend had done in the beginning.

After sending the video to them Alex explained he was asked to do one more thing before they would unlock her £20,000 bonus.

The investors asked him to send over his personal details including his passwords. Alex handed over his password for his Instagram account.

When asked how he felt comfortable enough to send his password Alex said: “He really sold it to me. He kept reassuring me and sending positive messages which just kept making me fall for it.

“It was a bad judgement call.”

Now in control, the scammers turned his social media account into their own weaponised endorsement machine, targeting his 4,467 followers.

As a semi pro cyclist, he had thousands of fans who followed his cycling career.

The scammers posts on Alex’s account were selling his followers on the idea ‘money flip’ could make them big cash, and fast.

They would use images of fast cars, and cryptocurrencies to make them believe this is how he funds his lifestyle.

Unfortunately, many of his followers lost thousands of pounds, believing he had endorsed the scheme.

Alex said: “Overall, upwards of £100,000.

“I know there are more people out there but I can’t get exact figures.

“People have been victims but just can’t get a hold of me.

“I felt exposed, and distraught. Knowing it was all my fault.”

After three months, Alex was able to recover his social media account, however, it remains unclear whether anyone will receive back the money they have lost.

BBC Rip Off Britain continues tomorrow on BBC One at 10:45am.

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