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Football club PSV terminated sponsorship agreement with Investous of F1Markets

FinTelegram has recently reported about F1Markets and its broker platforms. These include the online broker Investous, against which numerous complaints from retail investors have been filed. An extensive broadcast on Facebook about alleged fake advertisements by Investous ultimately led to PSV Eindhoven terminating its sponsorship agreement with Investous (F1Markets).

Fake ads on Facebook

The pattern of fake ads allegedly used by Investous is unfortunately very well known and widely applied in the scam industry. Celebrities are being misused to advertise an investment without their knowledge and consent. Retail investors are tempted to invest by the apparent participation of celebrities.

An accumulation of nasty facts in recent months is the cause of the decision. PSV has concluded this afternoon that the club’s reputation has been damaged and that is a resolutive condition in the contract.

PSV Eindhoven

According to several Durch media outlets, Investous is accused of using these fake ads on Facebook with Dutch celebrities to lure Dutch retail investors into investing in high-risk financial products, such as bitcoins. Several people are said to have lost thousands of Euros, with one woman losing some €800,000 the investigative online media Opgelicht revealed.

PSV said that when the contract with Investous was signed nothing hinted at the broker’s dodgy business practices. When the respective rumors began to surface the club’s legal department summoned the company several times to deal with complaints.

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