Harpenden influencer sentenced after Instagram investment scam cost followers thousands
Joshua Weekes used his social media following to recruit dozens of investors who never saw their money again
A social media influencer who used his Instagram following to recruit investors into a scam has been sentenced.
Joshua Weekes, a 37-year-old from Hyde View Road in Harpenden, pleaded guilty to theft at St Albans Crown Court.
He was handed a one-year prison sentence, suspended for two years, and ordered to complete 250 hours of unpaid work and a further 15 days' work with the Probation Service.
The case concluded on Wednesday 30th September, following a long-running investigation by Hertfordshire Constabulary's Serious Fraud and Cyber Unit.
Weekes promoted the chance to invest in businesses through Instagram, attracting dozens of investors who each paid a minimum of £1,000.
The scheme ran between May 2020 and May 2021 and raised around £100,000, but investors failed to see any return on their money.
At a previous crown court hearing, Anna Masi, a 36-year-old from Hitchin, was not convicted but agreed to a crown court undertaking to repay approximately £26,000 to victims.
Detective Constable David Johnson, from the Serious Fraud and Cyber Unit, said: "Weekes has a substantial social media following and as a self-styled 'influencer', Weekes was able to convince dozens of people to invest in business ventures which were going to be promoted. Most of the money invested disappeared and none of the promised returns materialised, leaving the investors all financially out of pocket.
"I would like to raise awareness to the public that self-styled "Influencers" are not financial advisors and that there is significant risk with investing with anyone online. Please do not always take everything online at face value and research individuals and companies before committing any finances into an investment. Investments like this are largely unregulated and significant risk lays with the investor".
Detective Constable Johnson added: "In this investigation Joshua Weekes recruited investors using his Instagram account, taking advantage of his followers' loyalty and using their money to fund his own lifestyle. Hertfordshire Constabulary will always seek to bring to justice people who steal from the public. In this case we would like to place on record our thanks to the victims of this scam for reporting concerns to the police and providing the evidence which has led to this outcome".