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Those 'Rich Kids Of Instagram' Accounts Are Helping Police Catch Rich People For Fraud

Those 'Rich Kids Of Instagram' Accounts Are Helping Police Catch Rich People For Fraud


George Pavlou

George Pavlou

Is there anything I hate more than rich kids flaunting their ridiculous lifestyle on social media? Apart from things like poverty, war and Geordie Shore, no, there is not anything I hate more than rich kids on social media.

Which is why I am glad to hear that these Rich Kids Of London/Snapchat/Russia accounts are actually helping police bust rich people for fraud.

The Guardian reports that investigators go to social media first when monitoring a rich person because they're sure one of these throwaway photos will show something their dodgy parents are hoping to hide.

Oisin Fouere, managing director of K2 Intelligence in London, said social media was the 'first port of call' and that one of the people they investigated said he had no significant valuables. Then they went on his kids Instagram account and found him on his family's $25 million yacht. As you do.

Apparently most of the rich people being done for fraud are not social media users themselves, but people who have children, employees and associates who are more active online.

Only recently, global judgement enforcement firm Burford Capital were able to seize a 'newly acquired private jet' because the fraudsters son posted a picture of himself and his father in front of the jet.

These rich kids' social media posts are even helping in divorce cases where husband's try to hide assets from wives.

Andrew Beckett, managing director of cybersecurity and investigations at Kroll, said they found dozens of homes registered in a man's name after geo-tagging his son's social media posts. The man had originally claimed he couldn't pay his ex-wife a court-ordered $30 million until it was proven by investigators he was worth close to $60 million.

Kind of scary to think how many people are rich off the back of corruption and general skullduggery, huh?

Words by George Pavlou

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Topics: Police, Social Media, crime, Rich Kids Of Instagram