ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

How a Fake Letter From Dead Russian Opposition Leader Alexei Navalny Is Scamming People

Scammer groups posing as supporters of Navalny are spreading a fake letter asking for investments
PUBLISHED FEB 23, 2024
 Opposition leader Alexei Navalny during a 'March of Millions' protest rally against Vladimir Putin's return in Moscow | Getty Images | Photo by Oleg Nikishin/Epsilon
Opposition leader Alexei Navalny during a 'March of Millions' protest rally against Vladimir Putin's return in Moscow | Getty Images | Photo by Oleg Nikishin/Epsilon

A new scam has emerged following the death of Russian opposition politician Alexei Navalny. Scammers are posing as Navalny’s supporters circulating a fraudulent letter that they claim was written by the dead leader. The fake letter promotes an initiative that it claims was the brainchild of Navalny to ensure the “financial well-being” of the Russian people, Meduza reported. The letter encourages people to invest in the initiative and the money reportedly ends up in the pockets of the scammers as the entire thing is a scam.

Alexei Navalny is seen on the screen during his legal appeal against his nine-year prison sentence | Getty Images | Photo by Contributor
Alexei Navalny is seen on the screen during his legal appeal against his nine-year prison sentence | Getty Images | Photo by Contributor

Navalny was Russia’s top opposition leader and President Vladimir Putin’s fiercest foe. He was serving a 19-year sentence in prison on charges of extremism. The anti-corruption campaigner stood against corruption in Russia  for decades and was the founder of the Anti-Corruption Foundation (FBK). However, since his imprisonment, he went from being the Kremlin’s biggest foe to Russia’s most prominent political prisoner.

The 47-year-old blogger and political leader had previously survived poisoning attempts and made it through some of Russia’s most notorious jails after his group had exposed rampant corruption at almost every level of the Russian state, news agency AP reported.

He frequently targeted President Vladimir Putin and even from behind bars, at a time unable to challenge the president at the ballot box, his voice held great power and influence.

In December last year, Navalny was moved from his former prison in central Russia to a “special regime” penal colony, which is the highest security level of prisons in Russia, located above the Arctic Circle, as per the report.

The fierce leader’s voice finally fell silent on February 16 when the Federal Penitentiary Service said that he had died in prison, in a statement. The statement claimed that Navalny had gone for a walk where he fell unconscious and died.



 

After Navalny’s death, the fake letter started circulating on Facebook, by scammer groups posing as supporters of Russian opposition leaders. A photo of the letter is being shared which shows it was written by Navalny to his wife Yulia.



 

The fraudulent post says that before his death, Navalny, “sent a letter to his wife, in which he said that he wants to share the initiative he’s been developing for five years and to use it to help fellow citizens provide for their families.”

Furthermore, the fake letter says that, likely, Navalny will soon “not exist” and that his biggest wish is to “ensure the country’s financial well-being.” It further notes that he failed to achieve his goal but he is now sharing a “financial project” which he has been preparing for the past five years. The letter further says that Navalny wanted everyone to know about the initiative and invest in it.

According to Meduza, the letter adds that “Witnesses say the initiative makes up to 600 euros [$641] per day, trading assets from the largest companies with the help of artificial intelligence.” Lastly, the fraudulent post shares a link for victims to download the initiative and start earning money. However, the link takes victims to a website run by the scammers.

Once the victims click on the link and try to access the fake Navalny initiative, they are then prompted to fill out a form with their personal information.

After this, a scammer from the group contacts the victim posing as their “personal manager” and convinces them to invest a certain amount to start earning “quickly”. Further, if the victim invests the money in the fake “initiative”, it goes straight to the scammers who then promptly disappear as per the report.

MORE ON MARKET REALIST
While some tried to figure out what it was, others were annoyed.
6 hours ago
The new scam is sending out letters with bogus toll-free numbers that connect to scammers.
8 hours ago
When Harvey heard a relatable answer, the memories came rushing back to him.
1 day ago
Gas prices have been one of the bright spots of the U.S. economy, and the outlook for 2026 is here.
1 day ago
The player, Jenane who tried hard to ace the Cover Up game was overwhelmed with emotion
2 days ago
On Christmas day, the contestant, Paul pulled off a win with the tiniest of margins.
5 days ago
This tech giant is betting on the next primary computing device for the world.
5 days ago
This marked the second time this week a player lost out on the $100,000 prize.
5 days ago
Turns out Harvey was just trying to help out a player get some points.
6 days ago
Host Ken Jennings accepted an answer despite an error that most found unacceptable.
6 days ago
The U.S. district court judge's ruling comes ahead of a verdict on tariffs by the Supreme Court.
6 days ago
The player, Erica Sciuto picked all the letters that she needed to win.
6 days ago
While the host comically tried to hide the mistake, the prop was clearly on the floor.
6 days ago
Harvey wasn't prepared to hear some of the answers, at all.
7 days ago
Starting January 7, about 7,000 defaulters are set to receive notices from the Education Department.
7 days ago
Even the host, Ryan Seacrest was surprised to see the good player lose out.
7 days ago
Walmart has deployed several AI-powered tools to deliver a smooth shopping experience.
Dec 23, 2025
The warehouse retailer is making a layout change, which may dictate how long customers wait for checkout.
Dec 23, 2025
Retailers including Best Buy, Kohl's, Macy's, and more will charge a fee on returns.
Dec 23, 2025
Hearing the answers, Harvey wondered how the team that won the question got so far in the game
Dec 16, 2025