British finance expert sues Facebook for publishing fishy cryptocurrency ads

A British finance guru has sued the social media giant Facebook on Monday for showing cryptocurrency advertisement which falsely uses his face and name to promote trading scams.

Martin Lewis, a financial journalist and founder of consumer finance site, alleges that Facebook published over 50 fake Martin Lewis adverts “which are regularly seen, likely by millions of people in the UK.”

He, in his blog, attached some examples of the ads and highlighted that the most prevalent ads are get-rich-quick schemes currently titled ‘Bitcoin code’ or ‘Cloud Trader’, which are fronts for binary trading firms based outside the EU.

“Enough is enough. I’ve been fighting for over a year to stop Facebook letting scammers use my name and face to rip off vulnerable people – yet it continues. I feel sick each time I hear of another victim being conned because of trust they wrongly thought they were placing in me. One lady had over GBP 100,000 taken from her,” he said.

“I don’t do adverts. I’ve told Facebook that. Any ad with my picture or name in it without my permission. I’ve asked it not to publish them, or at least to check their legitimacy with me before publishing.”

Lewis said that the adverts have links to fake news articles which look like the reputed news portals such as BBC.