Filipino billionaire denies endorsing Bitcoin ‘scam’

The Philippines’ richest man has fervently denied his involvement in a purported Bitcoin trading program that was previously accused of using fake celebrity endorsements.

Manuel Villar, whose net worth is estimated to be $6.7 billion, said in a statement that he had “never made any such endorsement nor have I engaged in the said Bitcoin program.”

“This is obviously a scam and I ask the public to protect themselves from such unscrupulous act,” he added.

According to the Manila Standard, a broadsheet newspaper in the Philippines, several posts on social media platforms quoted Villar endorsing Bitcoin Revolution.

Scammers have resorted to using celebrities and billionaires to ruse investors in the past. In fact, last year, a UK watchdog said victims had lost $35 million to such scams in 2018-19.

Just recently, Martin Lewis, an English journalist and the founder of MoneySavingExpert.com, spoke out after being…