Categories: Bitcoin Business

‘Big Brother’ billionaire goes after Facebook over fake BTC ads

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The creator of ‘Big Brother’ show has filed a lawsuit against Facebook over fake SegWitCoin (BTC) ads bearing his name, in the latest round of enforcement action against fraudulent crypto ads on the platform, Reuters reported.

Dutch billionaire John De Mol, who developed ‘Big Brother’ and several other successful TV show formats, said he had been unsuccessful in reaching an agreement with the social media giant over the ads, after filing an action with a court in Amsterdam back in June.

At an initial hearing, the district court in Amsterdam said an attempt should be made between both parties to resolve the matter out of court.

However, De Mol is now set to ask the court to intervene after talks on a deal between the parties collapsed.

According to representatives for John De Mol, the ads have been used to defraud unsuspecting investors out of millions of dollars, and appear to have been running for an extended period undetected on Facebook.

In a statement, De Mol said Facebook had been reluctant to act appropriately in tackling the issue, describing its actions as a “smokescreen” to avoid removing the ads and preventing fraudulent misuse of his identity in future.

After three months of negotiating it has become clear to me that it is impossible to come to an agreement with Facebook on the misleading bitcoin advertisements.

He added, “While the company seemed to be cooperating, it was merely a smokescreen that concealed its reluctance to put in place the desired measures in a timely and correct manner.”

According to reports, the now-removed ads solicit investments in BTC and other fake crypto schemes by falsely implying the endorsement or support of John De Mol.

One of a number of Dutch celebrities to have been included in ads of this kind, his lawyers have claimed losses from the ads could run to as much as €1.7 million, equivalent to $1.9 million.

Facebook has yet to comment on the reports, only the latest to criticize the firm for carrying fraudulent crypto ads.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

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