Last Updated on by SCARS Editorial Team

Call For Government Investigation Into Facebook Fakes

For years Facebook has hidden the true extent of the number of fake subscribers (profiles) on their social media platform. The value of Facebook as a business is, in large part, based upon the number of subscribers to Facebook. This is the basis for advertising fees which provide revenue for the company.

PLEASE HELP US ADDRESS THIS HUGE PROBLEM BY DEMANDING ACTION BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION

GO HERE TO SIGN THE PETITION: https://www.change.org/p/chairman-jay-clayton-government-investigation-into-facebook-fakes

TO: Chairman Jay Clayton (202) 551-2100, Securities and Exchange Commission, Washington D.C.

We assert that Facebook deliberately underestimates the number of fakes on their platform, and when they do report it, buries it into their quarterly reports and describes it in terms that disguise its true significance.

We believe that Facebook has engaged in a decade long deception of the public and their shareholders. That they have allowed the practice of fake profiles to be created, numbering by their own estimate of over 270,000,000 (or more than 10%). Facebook has allowed this practice without regard for the societal impact by criminals and even terrorists, in an effort to inflate their subscriber numbers. By their own recent admission, 10% (and we believe it to be more like 40%) are fake.

We implore the United States Securities and Exchange Commission to thoroughly investigate Facebook for Securities FraudFraud In law, fraud is intentional deception to secure unfair or unlawful gain (money or other assets), or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. A fraud can also be a hoax, which is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a victim., and in addition ask the Federal Trade Commission to investigate Facebook for unsafe and deceptive business trade practices that endanger consumers by constantly subjecting them to criminalCriminal A criminal is any person who through a decision or act engages in a crime. This can be complicated, as many people break laws unknowingly, however, in our context, it is a person who makes a decision to engage in unlawful acts or to place themselves with others who do this. A criminal always has the ability to decide not to break the law, or if they initially engage in crime to stop doing it, but instead continues. fraud within their platform, and that Facebook has consistently failed to respond when notified of these abuses. We also believe that Facebook systematically defrauds its advertisers by claiming “reach” numbers that it knows include fake accounts.

Our organization has reached out to Facebook for years to attempt to help the company recognize the extent of the problem, and develop methodologies for mitigation. Each such attempt has been ignored.

We there for request a formal investigation by the SEC, and a formal referral to the FTCFTC The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) U.S. antitrust law and the promotion of consumer protection. The FTC can also act as a clearinghouse for criminal reports sent to other agencies for investigation and prosecution. To learn more visit www.FTC.gov or to report fraud visit ReportFraud.FTC.gov to address these matters, and to do so in the public arena so that shareholder, advertiser, and consumer confidence in the Facebook platform may be secured.

We ask this on behalf of Facebook subscribers worldwide.

The Society of Citizens Against Romance ScamsScams A Scam is a confidence trick - a crime -  is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost.
9737 NW 41st Street, Suite 530, Doral, Florida 33178 U.S.A.
www.AgainstScams.org  contact@AgainstRomanceScams.org

 

GO HERE TO SIGN THE PETITION: https://www.change.org/p/chairman-jay-clayton-government-investigation-into-facebook-fakes