• A Taranaki grandmother lost $224,000 to an AI deepfake scam featuring Prime Minister Christopher Luxon.
• The scammers manipulated her into investing in cryptocurrency, claiming to be legitimate financial advisers.
• TSB has declined liability, saying the victim enabled the scam by granting remote access to her device and accounts.

A Taranaki grandmother lost $224,000 to scammers after being duped by an AI-generated deepfake video of Christopher Luxon encouraging superannuitants to invest in cryptocurrency.

Jill Creasy, 72, spotted the realistic-looking video advertisement on Facebook in July this year. In it, the Prime Minister purportedly urged pensioners to supplement their income by splurging on Bitcoin.

However the video – along with others depicting TVNZ broadcaster Jenny May Clarkson and deputy Prime Minister Winston Peters – were AI-generated deepfakes that weeks later sparked a public scam warning from the Financial Markets Authority.

With $20,000 savings plus a term deposit with $200,000 inherited from her late mother’s house, Creasy was keen to invest.

After responding, she was contacted by a Greek national calling himself Adam Manolas who claimed to be a Terma Group investment adviser based in Manchester.

Manolas explained how the investment worked then sent Creasy software called AnyDesk, which gave him remote access to her computer. Using her email, he set up accounts under her name at crypto exchange platforms Easy Crypto and Binance, before instructing her to log in to her TSB internet banking.

She then watched as he transferred the first of a dozen or so payments over the next 26 days to purchase Bitcoin from Easy Crypto. Most of the payments were for $20,000 – her daily transfer limit with TSB.

Creasy’s Bitcoin was supposed to be deposited in her Binance wallet, but she later learned it was sent to another account controlled by the scammers.

A computer expert who helped Creasy unravel the fraud tracked her Bitcoin to a third Binance “holding account” that was receiving nearly $3 million each day and contained nearly $1 billion in cryptocurrency. He believes the assets were likely linked to other victims.

When Creasy’s inheritance money and savings were exhausted, Manolas withdrew funds from accounts set up specifically for her grandchildren. On one of their last phone calls, she heard him tell colleagues: “This woman has no money.”

She was promised an 8.5% return, and told her investment had already ballooned to nearly $320,000. But when the first dividend payment did not materialise in late August, she smelled a rat and tried unsuccessfully to recover her money.

A still image from a deepfake AI-generated video depicting deputy Prime Minister Winston Peters appearing to endorse cryptocurrency investment. The video was the subject of a public scam warning in August by the Financial Markets Authority. Photo / FMA

Taranaki grandmother Jill Creasy, 72, lost $224,000 in an investment scam.

‘Evil will come to you’

In an email this week, Creasy castigated the scammers who stole her life savings, warning that “evil will come to you”.

“You told me you are known as ‘Money Manolas’,” she wrote. “Are you a thief?”

“If you entrusted me with your money I would pay you back when you asked for it.

“I hope your 74-year-old mother is safe from predators like you.”

Creasy told the Herald Luxon’s apparent endorsement was “the fishhook” for her investing. She’d believed her money was “safe and secure”.

It was devastating to learn she’d been tricked by criminals and that her retirement nest egg was gone.

“First of all I felt angry and then I felt foolish, then I felt really ashamed.”

The scammers instructed Taranaki grandmother Jill Creasy to take this photo to demonstrate she was not being coerced into purchasing Bitcoin.

The financial effects of being scammed were far-reaching and she did not know how she would survive.

Creasy said the scammers were skilled con artists. Both TSB and Easy Crypto had contacted her with concerns about the transactions, but she was so convinced by the ruse she verified the payments as legitimate.

“It’s my fault, I facilitated him getting into my account. I was conned and it’s a terrible feeling because you can’t really believe it.”

She reported the scam to police and TSB but her money could not be recovered. She was angry that authorities appeared to be powerless to trace the offenders overseas or hold them to account.

She now wanted to hire a professional hacker to track Manolas – who was presumably targeting other victims – and said she’s envisaged burning down his house.

“I told the detective, ‘If you give me a Luger I’d drop him’.

“I won’t let it rest because somebody is making a living out of dishonesty.”

‘They could be Eastern European, they could be anywhere’

A computer technology expert who assisted Creasy told the Herald the scammers appeared to be part of a large-scale international criminal network.

He believed they were using global crypto exchanges to launder stolen money. They had preyed on Creasy due to her limited technological expertise and vulnerability, he said.

“She’s really subverted a lot of checks because they’ve won her over, they’ve gained her confidence as a legitimate investment.”

He said the scammers’ holding account was receiving millions of dollars each day from other victims.

“They seemed to be doing this to multiple people. They appeared to have multiple wallets.

“I imagine it will be quite a large criminal organisation. They are dealing with large amounts of money. They could be Eastern European, they could be anywhere.”

PM says he would ‘never endorse a particular investment’

Prime Minister Christopher Luxon says he would never endorse a particular investment and urges Kiwis to be vigilant for scams. Photo / Mark Mitchell

A spokesman for the Prime Minister said he would never endorse a particular investment and urged Kiwis to be vigilant for scams.

Online scams were becoming more sophisticated with thousands of Kiwis falling victim.

“It is distressing for anyone who falls victim to a scam. The Government is always looking at ways to help Kiwis protect themselves online.”

The best way for people to protect themselves was to be vigilant and “aware of the risks”.

‘You have failed to take reasonable care’

Following an investigation into the crypto fraud, TSB told Creasy she had unfortunately enabled the scam by allowing remote access to her device. TSB was therefore not liable for her loss.

“By downloading ‘AnyDesk’ and sharing the one-time [two-factor authentication] codes with the third party ... you have failed to take reasonable care to protect your security credentials... which has resulted in the loss, for which you are responsible.”

TSB told the Herald Creasy had authorised each transaction. When queried about her using term deposit funds, Creasy told staff the money was needed for a “family matter”.

TSB froze Creasy’s accounts after learning of the fraud, tried to recover the funds and asked Creasy to contact police.

It urged customers to be vigilant, never share account details and not allow third-party remote access to their devices.

Easy Crypto said it worked hard to identify scams and monitor transactions.

The platform contacted Creasy due to concerns about her transactions and to obtain reassurance she was not working with any third party like a broker or investment site.

Scammers gained remote access to the victim's computer then transferred $224,000 to an EasyCrypto account to purchase Bitcoin.

“Ultimately, the decision to proceed with the transaction rests with the customer and in this instance they confirmed that they were sending the funds to their own wallet; weren’t working with anyone and instructed us to proceed with the order. We, like all providers, rely on the information provided to us by the customer.”

Police said the case remained under investigation.

“It’s important to remember that no legitimate company or financial advisers use remote-access software in their work. This is a sign that this is a scam.

“If you ever have suspicions, disconnect the call and phone back the number on the company website. Or check in with a trusted friend or relative.”

Lane Nichols is Deputy Head of News and a senior journalist for the New Zealand Herald with more than 20 years’ experience in the industry.