MANILA -- San Miguel Corporation (SMC) Chairman Ramon Ang warned on Tuesday the public regarding online posts using his photo to endorse an "investment opportunity."

Ang said he has seen "fake sponsored posts" using an old interview, wherein scammers make it seem as though he is endorsing investment opportunities using deepfake technology.

"Let me be absolutely clear— this is a scam. I have never endorsed, and will never endorse, any investment opportunity online," Ang said in a statement released in his official Facebook page.

"It’s frustrating how easily these fake videos spread, deceiving people and taking their hard-earned money," he added.

The businessman then questioned why the ads are still being allowed to circulate, saying he hopes to "see real action to stop deepfake scams before more people fall victim."