Ramon Ang warns public against deepfake investment scam

Billionaire Ramon Ang on Monday warned the public against fake news articles and deepfake videos that make it appear that he has endorsed an investment opportunity.

“Let me be absolutely clear — This is a scam. I have never endorsed, and will never endorse, any investment opportunity online,” he said in a social media post.

“It’s frustrating how easily these fake videos spread, deceiving people and taking their hard-earned money,” he added.

The posts have claimed that Ang endorsed investment opportunities that guaranteed income of $1,000 to P175,000 weekly.

Ang has since warned the public not to engage with anyone claiming to be from San Miguel Corp. (SMC) without proper verification, and from sharing personal information and interacting with suspicious posts, pages, or messages.

He also called on the public to report fake accounts and pages, and to always verify information through official channels.

“But how is this still happening? Why are these fake ads being allowed to circulate? I hope to see real action to stop deepfake scams before more people fall victim,” Ang said.

“In the meantime, let’s look out for one another. Do not engage, do not invest, and report these scams when you see them. Stay vigilant, protect yourselves, and share this post to warn others,” he added.

Ang, who ranked fourth in Forbes’ “Philippines’ 50 Richest’ List in 2024, was also among Forbes Asia’s 2023 Heroes of Philanthropy.

He currently leads San Miguel Corp. (SMC), which ended the first nine months of 2024 with a net income of P37.1 billion, and consolidated revenues of P1.2 trillion.—AOL, GMA Integrated News