Dutch Billionaire’s Case Against Facebook’s Fake Bitcoin Ads Reaches Dead-end

John de Mol is a Dutch billionaire and creator of the “Big Brother” reality program. He has been involved with several international hit programs like “Fear Factor,” “Deal or No Deal,” and “The Voice.”

He filed a case against the social network earlier this year for running fake ads on its platform. The case was filed after some fake ads were found on the social networking platform, which used his images and name for promoting fraudulent Bitcoin businesses.

Contentions Keep Increasing

The ads were soliciting investments from people for buying Bitcoin or participating in fraudulent digital currency businesses. They said that De Mol was involved in the process, was endorsing it or had his backing. In reality, he was not involved in these schemes in any way, and his images were being used to mislead investors.

However, on Monday, he said that he could not reach an agreement with Facebook over fake ads on the company’s network. In a statement, he clarified that even after spending three months negotiating with the American social networking company, he has found that “it is impossible to come to an agreement with Facebook on the misleading Bitcoin advertisements.”

Facebook Has Not Commented on His Statement Yet

Note that the misleading ads have been removed from the platform but not before some victims lost 1.7 million euros. De Mol’s lawyers also suggested that he was one of the many Dutch celebrities whom names and images were used fraudulently in these Bitcoin scam advertisements running on Facebook.

The Mark Zuckerberg-led company was the first major public platform to ban ads related to digital currencies in January last year. Twitter and Google soon followed suit and banned ads on their respective platforms as well. At the time of the ban, Facebook specifically highlighted its commitment to stopping ads that used deceptive or misleading promotional practices.

In June 2018, the ban was partially relaxed, which gave scammers a chance to promote their fraudulent schemes once again. One such company that claimed backing from De Mol Was Bitcoin Profit. Now, the billionaire wants identification data of the people who run these ads from Facebook and seek court’s intervention.

The post Dutch Billionaire’s Case Against Facebook’s Fake Bitcoin Ads Reaches Dead-end appeared first on TokenMantra.

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