Scammers Trick Trump Supporters Into Believing Their Memorabilia Is Worth Millions

Forbes - Mar 6th, 2025
Open on Forbes

As Donald Trump intensified his campaign, numerous supporters invested in Trump-themed memorabilia, with some being deceived by fraudulent schemes promising substantial returns once Trump assumed office. One significant case involved an Alabama woman who was scammed out of $152,000, believing she would receive a $13 million rebate for her Trump coins. The fraud, known as the Trump Rebate Banking (TRB) scheme, capitalized on the fervor of Trump supporters, exploiting their belief in his political and financial influence. Fortunately, the FBI intervened, freezing the stolen funds via Binance, although the Department of Justice did not comment on the ongoing investigation.

The TRB scheme is part of a broader pattern of scams targeting Trump supporters on platforms like Telegram and X, owned by Trump ally Elon Musk. These scams promise financial gains from Trump memorabilia, feeding into the supporters' psychological investment in Trump's brand. Despite efforts by platforms like Telegram to moderate and remove fraudulent content, many scams remain active, exploiting the political and financial allegiance of Trump's followers. Cybersecurity experts urge due diligence, emphasizing that these scams thrive on manipulating psychological triggers and the political devotion of individuals to Trump's persona.

Story submitted by Fairstory

RATING

6.4
Moderately Fair
Read with skepticism

The article effectively highlights a significant issue involving scams targeting Trump supporters through the sale of memorabilia. It provides a clear narrative with specific examples, such as the Alabama case, which helps illustrate the impact of these fraudulent schemes. The story is timely and relevant, addressing ongoing scams and raising public awareness about their tactics.

However, the article could benefit from a wider range of perspectives and more detailed information on the total number of victims, financial losses, and legal actions taken against scammers. Including input from law enforcement, financial platforms, and experts in fraud prevention would enhance the depth and balance of the reporting.

Overall, the article is informative and accessible, with a neutral tone that maintains objectivity. While it has the potential to influence public opinion and prompt caution among readers, its impact is somewhat limited by the lack of comprehensive details and diverse viewpoints. Nonetheless, it serves as a valuable piece for raising awareness about the risks associated with political memorabilia and the need for vigilance against scams.

RATING DETAILS

7
Accuracy

The news story appears to be largely accurate in describing the scams targeting Trump supporters who purchased memorabilia. It correctly identifies that these scams often involved promises of financial returns that never materialized, such as the $13 million rebate mentioned in the Alabama case. The article's description of the Trump Rebate Banking (TRB) scheme aligns with known fraudulent activities that exploit supporters' beliefs in Trump's brand and potential presidency. However, the story lacks specific details about the total number of victims and the overall financial impact, which are critical for a comprehensive understanding of the issue. Additionally, while the article mentions the FBI's involvement in freezing funds on Binance, it doesn't provide further details on the progress or outcome of legal actions against the scammers.

6
Balance

The article primarily focuses on the perspective of the victims and the fraudulent schemes they fell for, which is important for highlighting the issue. However, it lacks input from other stakeholders, such as law enforcement agencies, financial institutions like Binance, or representatives from the platforms where these scams proliferate, such as Telegram and X. Including these perspectives could provide a more balanced view of the efforts being made to combat these scams and the challenges involved. Additionally, the story does not offer any viewpoints from individuals who might argue that some memorabilia could hold value, albeit not in the exaggerated terms promised by scammers.

8
Clarity

The article is generally clear and well-structured, making it easy for readers to follow the narrative of the scams and their impact on Trump supporters. The language is straightforward, and the story is logically organized, beginning with the general phenomenon of Trump-themed scams and moving into specific examples like the Alabama case. The tone is neutral, focusing on the facts of the scams without sensationalizing the issue. However, more detailed explanations of certain terms, such as 'TRB scheme,' could enhance comprehension for readers unfamiliar with the topic.

6
Source quality

The article cites a search warrant viewed by Forbes and a statement from a Telegram spokesperson, which adds credibility to its claims. However, it lacks a broader range of sources, such as direct quotes from victims, law enforcement officials, or experts in fraud prevention. The absence of comments from the Department of Justice or financial platforms like Binance also limits the depth of the reporting. Including a wider variety of authoritative sources would enhance the reliability of the information presented.

5
Transparency

The article provides some context about the scams and the psychological triggers they exploit, which helps readers understand the basis of the claims. However, it does not disclose the methodology behind how the information was gathered, such as how Forbes identified the Telegram accounts or the specific details of the search warrant. Additionally, the article does not clarify whether there are any conflicts of interest, such as potential biases in reporting due to political affiliations or financial interests.

Sources

  1. https://newrepublic.com/post/186358/donald-trump-merch-silver-coins-scam
  2. https://abc7news.com/post/bay-area-victim-duped-ai-generated-trump-golden-eagles-project-collectible-scam/15852376/
  3. https://abcnews.go.com/US/chinese-entrepreneur-sued-fraud-invests-30-million-trump/story?id=116499146
  4. https://en.wikipedia.org/wiki/Trump_Rebate_Banking_system
  5. https://democrats.org/news/trumps-day-1-priority-scamming-his-own-supporters-to-enrich-himself-not-the-american-people/