Shanghai man uses AI to generate video of father bedridden to borrow money, defrauds friend of 1.7 million yuan and invests it in stock market

A man fabricated lies such as his father having cancer and his company needing funds to keep operating, and successively defrauded classmates and friends of more than 1.7 million yuan, then put all of it into the stock market and lost it all... Recently, Shanghai Putuo police successfully solved a fraud case, and the criminal suspect Jiang has been criminally detained in accordance with the law. On the evening of October 16, the Baili Road Police Station of the Putuo Public Security Sub-bureau received a report that a dispute had occurred between creditors Xu, Zhang, and Wu and debtor Jiang. After police arrived to handle the matter, they found multiple suspicious points during verification. Investigation found that since 2019, Jiang had borrowed money from the three people under various pretexts such as technology investment, buying a house for marriage, and company operating funds. Later, in order to continue obtaining money, he fabricated excuses such as his father suffering from cancer and needing funeral expenses after death. In fact, Jiang's father had always been alive and well. After the scam was exposed, Jiang truthfully confessed the course of the crime to police. He admitted that he had suffered repeated losses in stock trading and, in order to raise funds to continue investing in the stock market, fabricated various reasons to borrow money from relatives and friends. To increase credibility, Jiang even used AI to generate a video of his father bedridden and posted it on WeChat Moments. At present, the criminal suspect Jiang has been criminally detained by police in accordance with the law on suspicion of fraud, and the case is under further investigation.