Martin Lewis, the well-known money saving expert, is heartbroken over a vile scam misusing his name, which led to a fan's husband being conned out of thousands.

On ITV's , Martin connected through video link and was thrown into disarray when presenters and communicated a viewer's horrifying experience with a cryptocurrency scam falsely advertised under Martin's endorsement.

After hearing the disturbing news that someone had fallen victim to the scam touted on social media, an emotional Martin said: "Well, I'm very sorry to hear it. It's just ridiculous that it's still going on."

The finance whiz, who notoriously battled in court over such fake endorsements, blasted: "It is ridiculous that the current government and past government haven't had the balls to take on big tech and their scams.

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"They have not properly regulated them, they have not done what they need to do which is to make it more expensive for them to publish these scam ads with huge fines and huge levies against them if they do," reports .

He chastised the lack of regulation around scam adverts, recalling his own legal action: "We live in a wild west when it comes to scam adverts at the moment. I sued Facebook, it was six years ago when I sued Facebook about this," he recounted.

Money-saving expert Martin opened up on This Morning about his devastation after discovering a fan had been conned by a scam ad that used his image, as well as that of Dragons' Den star Steven Bartlett. The TV personality expressed he was "heartbroken" at the news and frustrated by the ongoing issue.

Martin's candid chat led to a broad response from the audience online. One disgruntled viewer commented: "I'm sick of seeing those s**t ads on here, some of the accounts have been on here for years and have never posted but because they're paying for a blue tick."

Another chimed in warning others: "I would steer clear of anything with Lewis or Bartlett on, genuine or not."

While a third shared some wise advice: "Never risk anything you can't afford to lose.."

This Morning airs Mondays-Fridays from 10am on ITV1.