AI Investigation Supported by Pulitzer Center Wins Global Fact-Checking Award

The Pulitzer Center-supported investigation How Nigerians Are Falling for AI-Driven Ponzi Scams won the Gold Standard Award—the highest honor presented by the International Fact-Checking Network (IFCN). The investigation was written by grantee Nurudeen Akewushola. The award was announced on June 19 at GlobalFact 2026, the IFCN's annual conference held in Vilnius, Lithuania.

The investigation examined how scammers took advantage of the growing public interest in artificial intelligence to reframe Ponzi schemes as "AI-powered" investment platforms. Journalists used open-source and digital forensic techniques to expose how the people behind the Ponzi scheme created fake endorsements by public figures to draw customers to their platforms.  

The investigation was produced by the International Centre for Investigative Reporting in collaboration with FactCheckHub.

According to FactCheckHub, the investigation followed several purported AI-powered investment platforms, including CBEX, Quantum AI, SquaredOptions, and Modmount Limited, and found that many were unlicensed and relied on opaque marketing strategies rather than true AI systems. The project also uncovered how major technology platforms don’t consistently enforce internal policies against deceptive advertising. Following publication, Meta removed multiple fraudulent accounts and advertisements identified by Akewushola. 

"I am deeply honoured that this investigation has received the Gold Standard Award at the 2026 Global Fact-Checking Awards,” Akewushola told FactCheckHub. “This recognition is particularly meaningful because it celebrates rigorous verification, transparency, and public-interest journalism at a time when artificial intelligence is increasingly being weaponised to deceive vulnerable people. I also sincerely thank the Pulitzer Center for supporting this investigation. Their support enabled the time, resources, and depth of reporting required to uncover a complex network of AI-driven scams operating across multiple platforms and jurisdictions."

Read the full project.