The U.K. based client adviser, who also runs MoneySavingExpert.com, darned Facebook for inflicting the financial catastrophe by promoting scam advertisements on its trustworthy social network, several solely featured by himself also. Lewis in Apr filed a lawsuit against the ‘Mark Zuckerburg’ for permitting ads to run on its platform with no background check on the promoters. He plans to distribute any court settlement among the victims of the bitcoin investment theme ads if the case goes in his favour.
But, within this meanwhile, many investors have already reached out to Lewis with their stories, that he shared with native media.
Mentioning further Lewis added:
“The impact on peoples mental state of losing their retirement funds, or losing their children’s, children’s cash that they thought they were investing is harmful and life-destructive, and this all had all endowed as a result of their featured ads.”
“People who say, ‘I’ve lost all my retirement funds, I don’t know how to sustain, people are crying their eyes out,” he explained. “From my perspective, these individuals say, ‘I solely did this as a result of I trusted Martin Lewis.’ Perhaps you can see how I feel regarding it.”
Lewis is reportedly seeking countless millions in damage from Facebook to compensate victims before he settles. He’s conjointly seeking an apology and “manifest substantial change” within the strategies by that the social media company handles its paid advertising. Lewis has antecedently asked Facebook to hire specialised professionals that would monitor and report false advertising quickly, specifically that misuse the names of public figures to dupe individuals.
Mike Schroepfer, the CTO of Facebook, told U.K. lawmakers earlier in May that they were planning to launch a facial identification feature to get rid of these blatant scams, however its preparation across their large-scale network clothed to be impractical. In January, before Lewis filed the case, Facebook had banned crypto-advertisements on its web site, significantly those promoting ICO’s. However, It currently permits pre-approved advertisers to market specific services, except ICOs.
A Facebook spokesperson confirmed to native media that they were mounting their crackdown against the false ad-campaigns on their web site.