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Australian Court Dismisses Billionaire's Crypto Ad Lawsuit Against Meta

By Wayne Ingram
Apr 15, 2024
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The District Court of Western Australia has dismissed a lawsuit filed by Australian mining magnate Andrew "Twiggy" Forrest against Meta, formerly known as Facebook. Forrest alleged that fraudulent cryptocurrency advertisements featuring his image on Meta's platform led to significant financial losses for unsuspecting individuals. However, prosecutors cited insufficient evidence to support Forrest's claims.

Andrew Forrest, who serves as the chairman of Fortescue Metals and ranks as Australia's second wealthiest individual, personally initiated criminal charges against Meta in February 2022. He invoked the anti-money laundering provisions of the federal criminal code, accusing the social media giant of knowingly profiting from illegal advertising and failing to remove the deceptive content promptly. Any further legal action against Meta requires approval from Australia's Attorney General.

In November 2019, Forrest penned an open letter to Meta CEO Mark Zuckerberg, urging the company to take down deceptive advertisements and prevent the misuse of his image on platforms like Facebook and Instagram. Despite Forrest's efforts, Meta pleaded not guilty to the charges brought against it in December 2023. Subsequently, the lawsuit was dropped by federal prosecutors due to a lack of compelling evidence, according to a spokesman for the federal prosecutor general, as reported by Reuters.

Expressing his disappointment with the court's decision, Forrest emphasized the importance of social media platforms adhering to Australia's laws to protect hard-working citizens from scams and fraudulent activities. He criticized Meta's alleged failure to provide adequate safeguards against deceptive advertising and the exploitation of individuals' images for illicit purposes.

Despite the setback in Australia, Andrew Forrest pursued legal action against Meta in the Northern District of California, filing a civil lawsuit in June 2022. The lawsuit cited six counts and accused Meta's self-service ad interface of facilitating the development of fraudulent ads. However, Meta moved to dismiss the case in January. Meanwhile, instances of scams utilizing Forrest's image persist, with a deepfake image discovered in a Facebook advertisement by Cybertrace in February. Additionally, on April 4, Google's parent company Alphabet filed a lawsuit against two individuals in China, alleging their involvement in a scam app downloaded over 100,000 times from the platform.

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