Maxpread Technologies deploys deepfake CEO to scam investors

Occurred: April 2023

Maxpread Technologies' use of an AI-generated CEO to manipulate investors into believing the company was legitimate and trustworthy prompted a US regulator to issue a desist and refrain order against the entity and its founder 'Jan Gregory Cerato'.

The video, which was created using AI video generation tool Synthesia aused to launch the company, was fronted by 'Michael Vanes'. 

However, according to the US Department of Financial Protection and Innovation, Vanes does not exist and that Maxpread’s real CEO is actually Jan Gregory, who the company had called its chief marketing officer and corporate brand manager. 

Gregory informed investors he was 'relinquishing his position' at Maxpread in May 2023, saying he had 'witnessed a series of mismanagement of people’s funds within this organization.' 

Maxpread is allegedly the latest in a series of scams involving Jan Gregory, whose real name is Jan Strzepka.

Operator: Maxpread Technologies
Developer: Maxpread Technologies; Synthesia

Country: UAE/Dubai; Hong Kong; USA

Sector: Banking/financial services

Purpose: Manipulate investors

Technology: Deepfake - video, audio; Generative adversarial network (GAN); Neural network; Deep learning; Machine learning  
Issue: Ethics; Mis/disinformation

Transparency: Governance; Marketing

Legal, regulatory 👩🏼‍⚖️

Page info
Type: Incident
Published: August 2023