A legal dispute between Bellewstown based Dragons’ Den star Gavin Duffy and Facebook, over advertisements which falsely claimed he was dead and had made a fortune investing in cryptocurrency, has been resolved.

The former presidential election candidate, who runs an executive coaching and communications firm, threatened legal proceedings against the social media giant earlier this year. He requested it desist from taking revenue from advertising that fraudulently used his profile.

Fake advertisements using Mr Duffy’s name and image began to appear on Facebook in 2018.

One contained a picture of Mr Duffy and said: “Tragic day in Ireland, we say farewell to Gavin Duffy.”

Clicking on the post brought the reader to an article which claimed Mr Duffy had successfully invested in Bitcoin. The article attempted to entice readers to invest.

A joint statement issued by the 61-year-old and Facebook Ireland said they had “resolved an issue regarding ads containing misleading and inaccurate statements about Mr Duffy, which were published on Facebook by malicious third parties”.

Mr Duffy was represented in the matter by solicitor Paul Tweed of Gateley Tweed.

The statement continued: “For the record, Mr Duffy states, and Facebook Ireland accepts, that he has never traded, speculated or invested in any cryptocurrency, nor has he ever recommended anyone do so.

“It’s important that ads on Facebook are useful to people and not used to promote deceptive behaviour, like using images of public figures to mislead people.”In a video message, Mr Duffy said Facebook Ireland was putting significant resources towards tackling such adverts.