Social-media collective WiFi Money was sued by the Nebraska Attorney General's office. WiFi Money has made tens of millions of dollars pitching controversial "passive income" investments. The lawsuit accuses WiFi Money of causing Nebraska state residents to lose more than $3 million.
WiFi Money was sued by Nebraska's Attorney General who alleged the social-media collective offered "deceptive" get-rich-quick schemes that lost residents of the state more than $3 million. On Tuesday, the state filed a lawsuit focused on investment opportunities that WiFi Money marketed during the COVID-19 pandemic that promised to make investors a profit by dropshipping on Amazon and Walmart's online marketplaces. A Business Insider investigation published in May 2024 found that WiFi Money has made tens of millions of dollars pitching entrepreneurial philosophy and online "passive income" opportunities on Instagram.
The influencers behind it have built a brand off of their flashy lifestyles — private jets, supercars, luxury watches, and endless vacations — and the alluring idea that anyone can "make money anywhere in the world, by doing one simple action...
connecting to WiFi." Beyond dropshipping, it pitched cryptocurrency, real estate, business bootcamps, and investments related to the Employee Retention Credit, a pandemic-era tax credit that has been susceptible to alleged scams , according to the IRS . Along the way, the group has been accused of fraud numerous times, including in an ong.
