A influencers at Francewho together with his wife have approx 4 million followers, accused of profiteering. Instagram deleted his account yesterday.
According to APE-MPE, this is a Frenchman who is accused of influencing some of his followers in their financial choices giving advice promoting high risk investments.
Meta France (the parent company of the social network) announced the decision to delete the account after an intervention on Twitter by a collective called AVI (Help for Victims of Influence) and asked it the question “what measures you will take against influencers who illegally offer their followers financial advice and promote very high-risk stock investments on your platforms?” The same collective announced the initiation of legal actions by dozens of people, in particular for “fraud” and “breach of trust”, who, they claim, were defrauded by investing in financial products advertised by famous influencers.
It is noted that in December, the French government launched a series of meetings and public consultation aimed at better regulating these practices. Economy Minister Bruno Lemaire will submit, as he announced, a relevant report by March at the latest.
Source: News Beast
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