Posted inSocial MediaNews

Influencer Chiara Ferragni charged with $1 Million fine for fraud

Story of Italian Influencer Chiara Ferragni’s fraudulent charitable acts unveiled!

Influencer Chiara Ferragni charged with $1 Million fine for fraud

Chiara Ferragni, anti-hero?

Chiara Ferragni, an Influencer with 30 million followers on Instagram follows the philosophy of anti-privacy, showcasing her life every little detail. From humble beginnings, she evolved into a multimillionaire, breaking into exclusive contracts with once restrictive consumer brands and establishing her own clothing line and digital marketing agency.

Questionable acts of kindness

However, recent events have overshadowed Chiara Ferragni’s influential empire. She was fined €1 million for falsely claiming that the proceeds from a Christmas cake sale would aid a children’s hospital. This misstep led to a broader investigation by Milan’s prosecutors for serious fraud, with brands severing ties and a host of consumer associations filing cases against her.

Paying the price

The Italian regulator’s record fine against her and previous actions against tech giants hint at changing times. Stefania Saviolo, a professor at Milan’s Bocconi University, suggests signs of the social media era waning as rising inequality makes perfect lifestyles less appealing, revealing influencers as strategic marketers rather than genuine individuals.

Influencer Chiara Ferragni charged with $1 Million fine for fraud

A business of image

The fashion industry is witnessing a shift towards traditional media, with luxury brands favoring established outlets over influencers. Additionally, the rise of virtual and AI influencers presents a new threat to the influencer economy, with brands experimenting with non-human entities like Noonoouri, Ayayi, and Kuki.

Caught in a traditional corporate-image crisis, Chiara Ferragni’s attempt to portray her actions as altruistic faces skepticism. The excessive punishment narrative clashes with the reality that her false claims misled consumers.

Stay updated on all of the latest news by subscribing to the ITP Live newsletter below and by clicking the push notifications.