Katie Price may face a social media ban after becoming embroiled in a shock financial scam last week.
It was revealed this month that the former glamour model’s Instagram followers were conned out of thousands of pounds after she promoted a rogue trader, with the Advertising Standards Authority ‘now investigating’ Katie, 43.
The TV personality was paid to advertise the supposed money-making skills of Forex trader ‘Josh Chandler’ to her 2.6million followers, however Katie and her team have said the star was also conned and had no idea it was a scam.
Investigation: Katie Price, 43, may face a social media ban after becoming embroiled in a shock financial scam last week
Revealing that Katie is ‘gutted’ about the ASA investigation, a source told The Sun: ‘Almost half her income is through social media. To be stripped of her socials would, for Katie, be like losing a limb.
‘The last thing she wants is to be seen as cheap or indiscriminate in her plugging.’
They added: ‘She is laying low while awaiting the investigation’s findings. This whole episode is a PR disaster — regardless of the ASA outcome.’
MailOnline has contacted Katie’s representatives for comment.
Conman: It was revealed this month that the former glamour model’s Instagram followers were conned out of thousands of pounds after she promoted a rogue trader
Last week it emerged that Katie was paid an estimated £3,000 to promote Josh without declaring they were sponsored posts and fans were ultimately conned by the individual, having spent hundreds in the scam to receive nothing back.
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 reported the scam to Action Fraud and at least five others were conned into sending money to the scam.
Ahead of her holiday, Katie took the opportunity to set the record straight with her fans by posting a lengthy statement on her Instagram stories.
She lamented: ‘I am absolutely devastated to receive the news about this rogue trader Josh Chandler, if that’s even his real name.
‘He has conned not only me but my family, friends, loyal fans and supporters.’
‘I want to thank Action Fraud for reaching out, for working with me in investigating this awful situation.’
‘I will seek justice’: Ahead of her holiday, the model took the opportunity to set the record straight with her fans by posting a lengthy statement on her Instagram stories
Katie continued: ‘This is precisely why Harvey’s Law is yet again so relevant, if we had the much needed support channels in place and required by law to provide ID’s to be set up on social Media accounts then people like this so called Josh Chandler would not be able to hide themselves, target venerable people [sic].
‘My heart goes out to all those that this conman’s deceit has affected. I pledge to you all I will seek justice,’ Katie signed off as she hopped on her flight abroad.
The model’s representatives told the MailOnline: ‘This has hit Katie hard, mentally, she needs some down time before embarking on setting out in putting a stop to these parasites that poach on vulnerable and honest souls.’
Terrible: The model was paid to advertise the supposed money-making skills of Forex trader ‘Josh Chandler’ to her 2.6million followers (Josh’s one Instagram post is pictured)
Meanwhile, Katie kicked off her fourth trip abroad in two months on Friday, jetting off to sunny Saint Lucia with her family.
After arriving on the Caribbean island, Katie’s fiancé Carl Woods, 31, shared selfies with her daughter Princess, 14, and filmed her son Harvey, 19, as they prepared to board a helicopter.
The Saint Lucia trip adds to an impressive line-up of international destinations visited by Katie and Carl in recent months after they visited Portugal, Turkey and Spain.
However, the family visit to Saint Lucia is the couple’s first long haul holiday since they visited the Maldives last October.
Relaxing: Katie is currently in Saint Lucia adding to an impressive line-up of destinations visited by Katie and Carl in recent months after they visited Portugal (pictured), Turkey and Spain