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Fortune

Jim Edwards

Goldman Sachs execs’ images used in deepfake video campaign targeting amateur investors on Instagram

Instagram Goldman Sachs United States Fortune David Kostin Michael Hewson WhatsApp CMC Markets Meta

(Credit: Michael O’Shea for Fortune)

A video ad campaign on Instagram used convincing deepfakes of Goldman Sachs executives Abby Joseph Cohen and David Kostin, in addition to Michael Hewson (formerly of CMC Markets), to tempt amateurs who want to get rich quick into a stock-buying WhatsApp group. Fortune confirmed the videos were fake, and Meta says it has removed the campaign from its platform.

Abby Joseph Cohen is a legend in the world of investing. She was chief investment strategist at Goldman Sachs until 2008, when she moved to the bank’s Global Markets Institute, before retiring from Goldman in 2021. Currently, she is a professor at Columbia Business School.

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