# AI-generated videos of Trump, Musk and Bank of America's CEO push a fake 'Golden Eagles' coin scheme Source: https://www.bankingnewsai.com/ai-incidents/bank-of-america-2025-moynihan-deepfake-golden-eagles-scam Last updated: Oct 21, 2026 Bank of America · AI used against the institution · severity 2 of 5 In early 2025, videos that ABC7 News and The Independent reported were likely AI-generated, showing Donald Trump, Elon Musk and Bank of America's chief executive, promoted a fake "Golden Eagles Project": buyers were told collectible eagles costing $59 could be traded in at Bank of America for more than $100,000 each. ABC7 reported on 1 February 2025 that a Bay Area veteran had spent about $2,500 on 324 of them after seeing the videos on Telegram; a coin dealer tested the items and found no gold. A Bank of America spokesperson told ABC7: "It's a scam that Bank of America has nothing to do with." The buyer recovered about $600 through his card processor. No police or regulator action has been reported. ## Key facts | | | | --- | --- | | Date | Feb 2025 | | Institution | Bank of America | | Country | United States | | AI system | AI-generated videos imitating public figures, circulated on Telegram (as described by the press) | | AI? | Machine-learning system (inferred from the record) — The sources describe a machine-learning model; nobody on the record labelled it AI. | | Category | Brand impersonation (AI used against the institution) | | Status | Confirmed by the institution | | Severity | 2 of 5 — Limited harm: a reported victim spent about $2,500 on worthless coins and recovered about $600; the bank's name and its chief executive's likeness were misused, but no wider loss total or regulator action has been reported. | ## What happened? ABC7 News (KGO-TV) reported on 1 February 2025 that victims had been "duped by what appears to be AI videos of the President, Bank of America's CEO and even Elon Musk talking about the Golden Eagles Project", a scheme to buy collectible "patriot eagles" and trade them in at Bank of America. One eagle cost $59 and its trade-in value was supposedly more than $100,000. The station said there were "fake, likely AI-generated videos" of President Trump on Telegram, and also fake videos of Bank of America's CEO and of Elon Musk. [1] The Independent reported on 3 February 2025 that videos "featuring the likenesses of Trump, Musk, and the CEO of Bank of America" persuaded people to buy into the scheme, and that buyers were told to trade the pendants and coins in at Bank of America for a large return. One AI-generated Musk video told viewers they could trade the eagles for a Tesla car or invest them in Tesla or SpaceX stock; the Independent said neither claim was true. [2] ABC7 described a Pittsburg, California, veteran who bought 324 eagles, about $2,500 worth, expecting more than $35 million. A San Francisco coin dealer tested the items for the station: the "golden eagle" contained no gold and was worth less than a dollar, and an accompanying "silver" coin was mostly copper with effectively no silver. The seller did not respond to ABC7. [1][2] ## Timeline - Feb 1, 2025 — ABC7 News reports a Bay Area victim of the "Golden Eagles Project" promoted by apparently AI-generated videos of Trump, Bank of America's CEO and Elon Musk; Bank of America calls it a scam. [1] - Feb 3, 2025 — The Independent reports that AI-created likenesses of Trump, Musk and the Bank of America CEO were used to sell the fake coins. [2] ## What was the impact? - Financial: About $2,500 spent by one reported victim, of which about $600 was refunded - Customers: One victim described by ABC7; ABC7 said "some unsuspecting victims" lost thousands, but no total number of victims was reported. - Other: Bank of America's name and its chief executive's likeness were used without authorisation to give the scheme credibility. [1][2] ## How did Bank of America respond? A Bank of America spokesperson told ABC7 News: "It's a scam that Bank of America has nothing to do with." No further public statement from the bank, such as a takedown or customer warning about these videos, was found as of 21 October 2026. [1] ## What was the outcome? The reported victim recovered about $600 after his credit-card processor refunded purchases made within the previous 30 days; the seller did not respond to him or to ABC7. No arrest, regulator action or platform takedown linked to the scheme has been reported as of 21 October 2026. [1][2] ## FAQ ### What was the Bank of America 'Golden Eagles' scam? In early 2025, videos that the press said were likely AI-generated showed Donald Trump, Elon Musk and Bank of America's chief executive promoting collectible eagles that could supposedly be traded in at Bank of America for more than $100,000 each. They cost $59 and contained no gold, according to ABC7's test. ### Was Bank of America involved in the Golden Eagles Project? No. A Bank of America spokesperson told ABC7 News in February 2025 that "It's a scam that Bank of America has nothing to do with." The bank's name and its chief executive's likeness were used without authorisation to make the trade-in promise look credible. ### Was any money lost in the Golden Eagles scam? Yes. ABC7 reported that a Bay Area veteran spent about $2,500 on 324 eagles after watching the videos on Telegram, and got about $600 back through his credit-card processor. ABC7 said other victims lost thousands, but no total loss figure or victim count has been published. ### Were the Golden Eagles videos made with AI? ABC7 described them as "fake, likely AI-generated videos" and The Independent called them AI-created likenesses. Neither the bank nor any authority has publicly analysed the videos, so the AI attribution rests on press reporting rather than a forensic finding. ## Sources 1. [Bay Area victim duped by AI-generated Trump gold investment scam: Here's what to know](https://abc7news.com/post/bay-area-victim-duped-ai-generated-trump-golden-eagles-project-collectible-scam/15852376/) — ABC7 News (KGO-TV), Feb 1, 2025 (news): "A Bank of America Spokesperson tells 7 On Your Side, "It's a scam that Bank of America has nothing to do with."" 2. [AI-generated Trump and Musk video dupes MAGA faithful into buying fake Golden Eagles coins](https://www.independent.co.uk/news/world/americas/us-politics/trump-musk-fake-ai-video-golden-eagles-scam-b2691379.html) — The Independent, Feb 3, 2025 (news): "Videos featuring the likenesses of Trump, Musk, and the CEO of Bank of America convinced some people to buy into the "Golden Eagles Project."" ## Related incidents - [AI clone of a client's voice calls a Bank of America banker to move money; attempt fails](https://www.bankingnewsai.com/ai-incidents/bank-of-america-2023-voice-clone-transfer-attempt) All AI incidents at banks: https://www.bankingnewsai.com/ai-incidents --- Canonical page: https://www.bankingnewsai.com/ai-incidents/bank-of-america-2025-moynihan-deepfake-golden-eagles-scam Part of [BankingNewsAI](https://www.bankingnewsai.com/) — the register of AI incidents at banks: https://www.bankingnewsai.com/ai-incidents. 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