Katie Price's Instagram followers were conned out of thousands of pounds after she promoted a rogue trader, it has been revealed.
The model, 43, was paid to advertise the supposed money-making skills of Forex trader 'Josh Chandler' to her 2.6million followers.
Kate Dalrymple, 40, a nurse from Newcastle upon Tyne, said she lost £825, nearly a month's wages, to the scheme.
She was guaranteed £1,250 if she transferred £100, but was then asked to pay a 'release fee' of £725 with the promise of receiving £4,000.
The nurse has reported the scam to Action Fraud and at least five others were conned into sending money to the scam.
Katie Price's team said the star was also conned and had no idea it was a scam.
Katie Price's Instagram followers were conned out of thousands of pounds after she promoted a rogue trader, it has been revealed
Online users have been warned about rogue Forex traders who promise huge profits for small investments, but many do not have the necessary accreditation or qualifications to offer these services, which makes them illegal and means aspiring customers risk seeing their profits flop.
Forex trading allows you to speculate on the changes in the strengths of different currencies over time and buy and sell them against each other.
Ms Dalrymple told The Sun: 'I feel so stupid. But I was always a fan of Katie's. I thought she was a good mother and related to her.
'Now I feel so let down and embarrassed. How could she put her name to this?'
The nurse said she saw Katie promoting Josh on her Instagram Stories and believed it to be genuine.
She said: 'My bank, Lloyds, even called me to flag that it looked like fraudulent activity but, again, because Katie Price had endorsed it, I told them it was genuine.'
Once she realised what had happened, Ms Dalrymple message Katie on Instagram but says she never received a reply and is 'disgusted' by her behaviour.
Katie praised 'Josh's' services at least twice on Instagram Stories where she encouraged her followers to invest in order to make a 'safe income'.
