Business giants from Lord Sugar to Richard Branson are desperate over the flood of counterfeit Bitcoin plugs on the Internet
Plugs for fraudulent Bitcoin investments are a “plague” – Martin Lewis
According to the online story, The Apprentice has been canceled.
The reason? Lord Sugar is too busy making money trading Bitcoin.
“He has invested heavily in the Bitcoin market and believes this will be the next multi-trillion industry,” enthuses the article.
“This led him to invest in and develop a new groundbreaking program called Bitcoin Trader.
“The innovative cryptocurrency platform has only been on the market for a few weeks, but is already making its users millionaires.”
It’s tripe, every word.
Like so many prominent business leaders, Lord Sugar’s name is used to lure the unwary to commit fraud through online advertisements that link to fake news sites.
“It’s annoying to see my name and face on websites that are run by charlatans and claim that I support their fraudulent investment plans,” he told the Mirror this week.
“This is becoming routine for many prominent business people, and there seems to be little to be done as these cowardly crooks hide behind short-lived anonymous foreign websites.
“It puts the public at risk, who may unwittingly think that I am supporting an investment plan, and it puts my reputation at risk by associating me with these scams.
“These crooks are absolutely ruthless. I just hope people do their homework before they part with money.”
One of the most abused names is that of Money Saving Expert’s Martin Lewis, who calls fake Facebook plugs for Bitcoin scams as a plague.
“Unfortunately, we’ve heard of people who have lost over £ 20,000 and say, ‘I only followed it because I thought it was recommended by Martin,'” he says.
“The thought of it makes me physically sick.
“I’ve spent my career advocating for financial justice, and now these guys are sucking that trust out to rob those in need.”
The stars of Dragons Den know these scams all too well. Peter Jones went online to clarify that he has no connection with Bitcoin investing.
“I am really grateful to everyone who has contacted me and left messages on social media and on my website that alerted me to the unauthorized use or abuse of my name and picture,” he writes.
“I will take steps to remove the unauthorized material and take appropriate action against the individuals and / or companies that have chosen to defraud people in this way.”
Deborah Meaden, another dragon, responded with reasonable candor when asked on Twitter if Bitcoin was worth a punt by saying, “How should I know?”
Dragon Touker Suleyman tweeted in March: “Hate scammers, is there anything to be done?”
Bill Gates also hijacked his name, as did former Google CEO Eric Schmidt.
Sir Richard Branson says his legal team has dealt with hundreds of fake news sites and companies misrepresenting him in the last year alone.
These sites often show footage of him speaking positively about Bitcoin and use it out of context to promote their rip-off sites.
“Some of the most regular and worrying fake stories circulating online right now are false endorsements of bitcoin trading systems,” he wrote on his blog.
“Although I have spoken many times about the potential benefits of real Bitcoin developments, I absolutely do not support these fake Bitcoin stories.”
And not only business leaders are named in vain, but anyone who is considered reliable and trustworthy can happen in public – such as Phillip Schofield from This Morning.
A website here today, gone tomorrow, crispo-magz.com claimed that it was investing in some kind of revolutionary trading system. On his Facebook account he replied with one word and lots of exclamation marks: “Fake !!!!”
Another victim in all of this is Bitcoin itself, which has nothing to do with the scams but becomes synonymous with them.
Most of them aren’t even about investing in Bitcoin, despite claims that they are extremely risky binary trading sites where you can gamble on the prices of commodities and real or cryptocurrencies that are going up or down.
Watchdog fines binary options company and Spurs sponsor EZTD for misleading players
These scams online are so prevalent that I would go as far as to say that if you see a business personality being used to promote Bitcoin investments, assume it is a scam until that It has been proven otherwise.
PS The apprentice was not canceled, series 14 will be shown later this year.