Man uses AI to generate video of his seriously ill father to defraud friends of over 1.7 million yuan; all the money was lost in the stock market

A man fabricated lies such as "my father has cancer" and "company cash flow" and defrauded classmates and friends of more than 1.7 million yuan, all of which was lost in the stock market... 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 Branch of the Shanghai Public Security Bureau received a report stating that the caller had found the debtor offline and a dispute had occurred between the two parties. After receiving the report, patrol officers immediately arrived at the scene and brought the creditors Xu, Zhang, and Wu, along with the debtor Jiang, to the station for further investigation. Upon inquiry, Jiang and the three were friends. Since 2019, Jiang had frequently borrowed money from the three under reasons such as "technology investment," "buying a house for marriage," and "company cash flow." Later, Jiang also claimed that "my father has cancer and urgently needs treatment" and "my father has passed away and funeral expenses are needed," using these to gain sympathy and continue asking his friends for money. Over several years, Jiang's hole grew larger and larger, and the borrowed amount totaled more than 1.7 million yuan. Unable to repay, Jiang kept fabricating new excuses to delay repayment until the creditors came to his door. When verifying the transfer records and chat logs of both parties, the police found many suspicious points in the matter. The borrowing spanned several years, the amounts were huge, the reasons were varied, and each time the flow of funds did not match what Jiang had said; even the information that "his father had died" was fabricated by him. Subsequently, the police traced the fund flows and found that almost every time Jiang received the borrowed money, he put it all into the stock market and lost it all. Seeing that the matter had been exposed, Jiang truthfully confessed to his criminal facts. According to Jiang's account, because his principal had been lost in the stock market, he attempted to use his friends' money to continue trading stocks and recover his losses. Over the years, all the reasons for borrowing were fabricated by him; the so-called "father died of cancer" and "company cash flow" were lies, solely to gain his friends' sympathy and defraud them of money. To increase the credibility of the scam, he even used AI to generate a short video of his father seriously ill in bed and posted it on WeChat Moments. Ultimately, because Jiang's investment decisions repeatedly failed, the more than 1.7 million yuan he borrowed was also lost entirely. At present, the criminal suspect Jiang has been criminally detained by Putuo police on suspicion of fraud, and the case is under further investigation.