The Washington State Department of Financial Institutions (DFI), Securities Division received a complaint from a Washington resident regarding investments made with a person on Instagram, whose page can be found at ,www.instagram.com/_nickilove__333, and who also posts on other social media websites using variations of the display name such as nickilove_333, Nicki Love_333, and nicki.love 333 (collectively, “Nicki Love 333”), among others. The social media websites used by Nicki Love 333 include: Instragram, using the handles @nicki_333l and @nickilove__333; Twitter, using the handle @nickilo19800010; and TikTok, using the handles @nicki_love_3333333 and @mcfarlanebusiness928, among others.
The complainant stated that a friend posted on Instagram that they had invested $1,000 with Nicki Love 333, and got a $25,000 return. The friend claims to have gotten cash back from crypto trading from multiple investments made with Nicki Love 333. All cash payments have been sent through Zelle.
Based on the various social media website postings, Nicki Love 333 is purportedly a “BITCOIN MINING TRADER” and a “PROFESSIONAL TRADER” who has “100% GUARANTEED INVESTMENTS.” The postings urge possible investors to “START EARNING NOW” and to “DM (Direct Message) ME RIGHT NOW.” These allegations have not been verified by DFI.
DFI urges consumers not to fall prey to Fear of Missing Out or “FOMO,” and remember that no investment is “guaranteed.”
This complaint and the related social media accounts contained several other red flags indicating fraud (which have not been verified by DFI), including the following:
That Nicki Love 333 is “©ISO Certified.” ISO, or the International Organization for Standardization, issues a third-party certification intended to help establish credibility and trust among clients, and others, by assuring adherence to global quality standards. The ISO does not certify financial professionals.
That Nicki Love 333 is affiliated with “fdic.gov.” FDIC and fdic.gov are the acronym and website used for the Federal Deposit Insurance Corporation. The FDIC is an independent agency that, among other roles, insures bank depository accounts. The FDIC does not insure against losses related to cryptocurrency trading or investing. To the Securities Division’s knowledge, the FDIC has no affiliation to anyone named Nicki Love (and variations of that name), or their many social media accounts.
That Nicki Love 333 is affiliated with Capital G, “capitalgroup.com,” and “Funded by the Americans Cash Awards.” A review of the Capital Group website found it to be associated with American Funds, a mutual fund company that has been in business since 1931. Because of the limited information name search based on “Nicki Love,” their registration to sell investments cannot be confirmed. There does not appear to be a “Nick” or “Nicki Love” registered to sell Capital Group investments.
A review of the many Nicki Love 333 postings on the Internet found numerous pictures purporting to be photos of Nicki Love 333. However, the pictures do not appear to depict the same woman. In addition, similar language was used throughout the numerous postings, indicating a possible template and stock photos being used to create the postings.
This complaint appears to be a type of cryptocurrency investment scam involving the use of social media and social engineering as described in an August 29, 2022, Investor Alert issued by the Securities and Exchange Commission at: Social Media and Investment Fraud – Investor Alert.
How to Protect Yourself from Fraud
DFI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. Investment professionals need to be licensed with DFI to offer investments to Washington residents. In addition, most investment products sold need to be registered with DFI. To check the licensing status and to find out if there are any complaints against an investment professional or investment product, please visit FINRA Brokercheck or contact the Washington State Department of Financial Institutions, Securities Division at (360) 902-8760. If you live outside of Washington State, contact your state securities regulator.
How to File a Complaint
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a complaint with the Securities Division.
If you believe you are a victim of an Internet Crime, report it to the FBI Internet Crime Complaint Center.