From Birch Gold Group
Amid a series of probes into potential privacy violations of its users, Facebook, the world’s largest social media platform, recently found itself under fire over another serious accusation: allowing scam ads to run on their website.
Like other tech giants such as Google and Yahoo, Facebook earns much of its revenue by displaying third-party ads on its network. Given the number of advertisers running on the platform, it’s unrealistic to expect that each ad passes a security check.
Celebrity endorsements are an extremely popular advertising method, and they are a primary marketing strategy of many companies. Consequently, scammers know that faking support from a reputable celebrity for their product is one of the easiest ways to garner the attention and trust of potential victims, especially if the offer sounds too good to be true.
This is precisely what happened with Martin Lewis, a British television host whose persona was used to create Facebook ads for fraudulent products and offers related to cryptocurrency. After years of offering sound financial advice and hosting a website called the Money Saving Expert, Lewis’s reputation is solid enough to make a get-rich-quick scheme look a lot more plausible.
Learning of what was happening, Lewis took to the legal system and filed a lawsuit against Facebook in April 2018, stating that his reputation had been tarnished by the website allowing thousands of scammy bitcoin ads with his face to run unchecked.
Now, Facebook and Lewis have come to a settlement to end the litigation and any other legal action. Facebook has agreed to donate $3.3 million and a further $500,000 from ad credits to a new project co-founded by Lewis. The Citizens Advice Scam Action, or CASA, will attempt to spread awareness regarding scams and prevent more people from falling into such schemes.
Here’s a YouTube post from Lewis himself explaining the settlement and what it will mean moving forward:
Yet for the victims who bought into these ads, the conclusion is perhaps less satisfactory. Lewis himself provided accounts of people who accused him of ruining their lives through a lack of diligence surrounding fake ads. One man reported having lost $25,000 following Lewis’ supposed advice, while a woman was conned out of $195,000 for doing the same.
As a result of his lawsuit, Lewis’ reputation may have been restored and the ads may have been taken down, but the problem persists, and those who have been affected by investment scams are hardly content with the resolution. Frauds have existed since the dawn of time, and education and awareness are ultimately the only things that can keep one from losing their savings through an ill-advised investment.
Birch Gold Group has recently tackled this issue in an extensive guide on our website, on how to recognize and avoid scams. In the case of unsolicited investment pitches, we advise that it’s important to ask specific questions, especially if the person promises a specific return on your investment.
It’s also a red flag if the person you are speaking to pressures you to invest as soon as possible, before you can do your research. Adding to this, fraudsters often reach out to victims through social media, which is why our guide suggests that you consider keeping your profiles private.
The guide also stresses that it’s necessary to explore a company’s background and reputation before placing your faith (and your money) in them. For example, if Lewis was indeed endorsing a new and potentially lucrative crypto investment plan, he would have likely mentioned it on his website or official Twitter account.
Finally, in our guide on the Birch Gold Group website, we’ve also covered the most common kinds of schemes, including those that are run by seemingly-legitimate companies. Lewis’ lawsuit resulted in a little justice, but in the end, common sense and due research will always beat even the most persistent scammer.
With global tensions spiking, thousands of Americans are moving their IRA or 401(k) into an IRA backed by physical gold. Now, thanks to a little-known IRS Tax Law, you can too. Learn how with a free info kit on gold from Birch Gold Group. It reveals how physical precious metals can protect your savings, and how to open a Gold IRA. Click here to get your free Info Kit on Gold.
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Fuck FB.
What’s more important is that gold is actually up $100/tr oz since Dec 17th.
Gold, schmold. So what! What’s really important is that I saved 15% on my car insurance by going with Geico.
You can’t cheat an honest man without duly passed and enacted legislation.
Why anyone anywhere pays any attention to FB, Twitter or any of the rest of that social media trash is a mystery. A lot of idiots is all I can figure.
FB, Twitter and “any of the rest” of social media network is the medium in which this generation sends and receives messages.
It is a whole new viewpoint brought to us by the Industry Makers.
Yes Double D, it (FB) is their medium and they are becoming socially awkward and dumber by the day. Also, you are so right that “Industry Makers” are at their peak right now. Just how much BS can these wizards CONVINCE the idiot sheep they absolutely, positively must have or they will not fit into the herd?
NOT FITTING into the herd is a fate worse than death to the IQ challenged and a GLORIOUS feeling of rugged individuality to the TBP-type personality.
It is… I don’t come on often as we really are turning our little piece of hill ground into something spectacular with the help of a couple old rodeo ranchers who drove up my driveway last spring.
I would consider sharing pictures but I once again lost another new camera and decided since it is the third in a year, I do not need a camera.
It’s not called Fakebook for nothing you know. Plus just look at the vampire-visaged Suckerberg; – he can’t wait to give you “such a deal”.
A nightmare-inducing photo.
Quick! Some bleach eyewash.
This is far worse:
http://mileswmathis.com/zuck.pdf