Scammers Spread Bitcoin Scheme With Phony Endorsement From Sir Paul McCartney

Celebrities around the world are now bait for a new scam. Bitcoin is booming again after its major drop in 2018, and the recent success has a lot of people talking. Among those excited by the current highs are online scammers who draw victims into purchasing derivative assets based on cryptocurrencies and use get-rich-quick schemes such as Bitcoin Evolution to do it. One of their primary tactics is fake celebrity endorsements. You’ve probably seen ads claiming that a familiar face has made millions and that you can too. These scammers grow bolder every day and are now claiming false endorsements from famed musician Sir Paul McCartney.

Who’s Behind This Scam?

The people behind these fake celebrity endorsements are part of an elaborate network that funnels traders to shady online investment brokers. They get paid by these brokers based on how many people they manage to direct their scam websites. The brokers themselves operate practically anonymously, having no registration with financial regulators and working from a base of operations in some offshore haven with no effective financial oversight.

Most often, the brokers are selling contracts for differences, a complex asset that comes with huge risks. When you buy them, you aren’t buying any Bitcoin. You’re buying another asset linked to the price of Bitcoin and will follow its price changes. Scam brokers give new traders the option to buy at leverage, promising massive returns. In reality, this leverage means the slightest drop in price can completely wipe out their savings.

Scam Brokers Falsely Promise Guaranteed Returns

Big celebrity names like Paul McCartney get people to the broker’s website in the first place, but that isn’t the end of their pitch. They want to snag as many victims as possible, especially those without much experience investing.

To make their platform more appealing to beginners, these brokers promise automated trading handled by complex algorithms. They say that traders won’t need any market knowledge to succeed. Their so-called robots will do all the work. Of course, these claims are entirely incoherent. Any company that could develop foolproof trading algorithms wouldn’t need fake endorsements to get investors.

Big Celebrity Names Used in Fake Endorsements

Paul McCartney could be the biggest name these scammers have used so far, but he’s far from being the only one. Fake celebrity endorsements have been a hallmark of online investment fraud for years now. From UK football clubs to famous actors, this scam casts a wide net to draw in every possible victim. Some of their most outrageous fake endorsements have included Elon Musk, Richard Branson, Daniel Craig, and some of their fake ads have even featured Prince Harry.

Celebrities do plenty of legitimate endorsements; we see them every day. The reason brands are willing to pay stars to endorse their product is that it works. People are more likely to buy a product that a celebrity has endorsed. The same goes for the fake endorsements for scam brokers; people fall for them. These scams claim countless victims and are claiming more and more as these scams become more prominent. It’s not like a fake celebrity endorsement for a pair of sneakers. These people are losing hundreds, thousands, even their entire savings.

How to Avoid These Scammers

You probably shouldn’t base your investment decisions on celebrity endorsements, real or otherwise. But if you are looking to invest online, there are a few main things you can look for to avoid becoming a victim. A simple search of the broker’s name can bring up user reviews. If there is a large number of negative reviews, you should steer clear.

There’s no reason to choose an unregistered broker over a registered broker. Always look for the registration. Don’t take their website’s word for it; verify that the company is on the financial regulator’s website. Make sure the financial regulator the broker is with actually authorizes them to offer services within your country. There are some regulators out there that aren’t much better than no regulation at all.


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  • Govtts,besides PRC,face an existential threat from Bitcoin and Cryptos ! It is not that it rivals the USD – that is nonsense.The threat to PRC has evaporated,as COVID has busted banks and economies all over the world,and PRC is relative much better.Therefore,there is NO INCENTIVE for Chinese to BUY BTC,besides speculation – for which the door to Macau is open – as the casino profits – then come back to PRC !

    The REAL BTC threat is that it BYPASSES THE banking system ! It is not that the banks will collapse and people will withdraw their money from the banks – and take a red eye to BTC ! That also,is not likely in the short term.

    The threat is that trade and commerce will BYPASS THE BANKING SYSTEM !

    If A sells to B in POS store or online or by a wire transfer – the money goes to his bank – irrespective of FX chosen.Cash can be hoarded,of course, but up to a limit

    Once the money hits the banks – then the trail is set ! EVEN IF THE PAYER IS NOT TRACEABLE – the recipient is screwed .Besides FATF – he comes in the Direct and Indirect tax net ! It is this tax net which feeds the corrupt government and politicians.

    So in a trade through BTC or other CrC (Crypto Coin),the Govtt loses the entire revenue on that supply chain and value chain – FOREVER – and that will catalyse more and more of such trades.In fact it will start a BTC supply chain – with its tech platforms – wherein manufacturing upto a limit – will NOT PAY ANY TAXES TO the government.

    The advantage to the buyer of the goods is that ,he get the items free of VAT or taxes – so it is 10-20 % cheaper,and he has anonymity of payment (if not of purchase)

    AND THEN,THIS WILL BANKRUPT THE STATE AND THE BANKS (AS ALL THIS LIQUIDITY WILL EXIT THE BANKS AND WILL ALSO DESTROY BANK SOLVENCY AND THE MONETARY POLICY OF THE FED -AS INTEREST RATES AND CREDIT POLICY,WILL NO LONGER BE A LEVER FOR ANY ECONOMIC DECISIONS AND OUTCOMES !

    That is the EXISTENTIAL THREAT TO THE WORLD AND ESPECIALLY TO THE «USA».

    Take the case for India – the Bad assets are USD 400 Billion USD and COVID has aided the banks in hiding more !

    It is CERTAIN THAT THE GOI WILL DEMONETISE BANK DEPOSITS ACROSS THE BOARD TO OFFSET THE LOAN LOSSES !

    Y WILL PEOPLE PUT MONEY IN BANKS ? The same is the story in most parts of the world.

    BTC supply comes from LOW COST POWER NATIONS
    BTC demand comes from INEVITABLE DEMAND WHICH IS EXPECTED from BUSTED NATIONS LIKE INDIA – AND SPECUALTORS IN THE US/EU PUNTING ON IT
    BTC THREAT COMES FROM THE USA and EU – the existential threat ! BTC is not a threat to PRC !

    AND THAT IS WHAT MAKES IT A PERFECT INVESTMENT BET ! dindooohindoo

    COULD IT BE THAT THE US AND EU ARE USING BTC TO TRAP INVESTORS,INFLATE THE BALLOON AND THEN BLOW IT UP ? THAT WILL WIPE OUT THE SPECULATIVE LIQUIDITY IN THE ECONOMIES – AND THE WEST CAN DO A FALSE FLAG – LINK THE MONEY TO CRYPTOS – AND THEN USE THAT TO BLOW IT UP !

  • Off-Topic of Possible Interest:

    Frank-

    You mentioned your Horoscopes/astrology article predictions?

    ….Well, the other day I was explaining to a friend that not only does the Moon cause the tides and trillions of gallons of water to move along with weather patterns, but that Jupiter and Venus and other planets may affect Earth’s weather.

    \\\//////
    The nexus being that astrology and horoscopes can now scientifically claim that the planets in our solar system impact the earth.
    \\\\\_
    https://www.usatoday.com/story/news/2018/05/07/climate-changes-orbits-jupiter-and-venus-affect-earths-climate/587280002/

    All of the planets in our solar system have gravitational fields that extend throughout space.

    So much so that the gravitational fields of all 8 planets must be calculated when sending a satellite into deep space.

About Frank Parlato

Frank Parlato Investigates

Frank Parlato is an investigative journalist.

His work has been cited in hundreds of news outlets, like The New York Times, The Daily Mail, VICE News, CBS News, Fox News, New York Post, New York Daily News, Oxygen, Rolling Stone, People Magazine, The Sun, The Times of London, CBS Inside Edition, among many others in all five continents.

His work to expose and take down NXIVM is featured in books like “Captive” by Catherine Oxenberg; “Scarred” by Sarah Edmonson; “The Program” by Toni Natalie, and “NXIVM. La Secta Que Sedujo al Poder en México” by Juan Alberto Vasquez.

Parlato has been featured prominently on HBO’s docuseries “The Vow” and acted as lead investigator and coordinating producer for Investigation Discovery’s “The Lost Women of NXIVM.” He was credited in the Starz docuseries, 'Seduced,' for saving 'slave' women from being branded and escaping the sex-slave cult known as DOS.

Parlato has appeared on the Nancy Grace Show, Beyond the Headlines with Gretchen Carlson, Dr. Oz, American Greed, Dateline NBC and NBC Nightly News with Lester Holt, where Parlato conducted the first-ever interview with Keith Raniere after his arrest, which was ironic since many credit Parlato as being one of the primary architects of his arrest and the cratering of the cult he founded.

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