Australian authorities have reportedly dismissed billionaire Andrew Forrest’s legal action against Meta over cryptocurrency fraud ads featuring his likeness on Facebook. This news is disappointing for Forrest, who is determined to make Meta accountable for the alleged permissiveness towards scam promoters using his image.
Australian Authorities Throw Out Forrest’s Case Due To Insufficient Evidence
In February 2022, business magnate Andrew Forrest filed a lawsuit against Meta for allowing fraudulent ads on Facebook that misused his likeness and name. With the support of Attorney-General Michaelia Cash, Forrest was granted permission to press criminal charges against the tech giant as an individual.
A wealthy mining magnate, holding a 37% stake in Fortescue Metals Group, accused Meta of violating Australia’s anti-money laundering regulations. He argued that Meta failed to take necessary actions against individuals using his likeness to advertise cryptocurrency frauds, potentially deceiving innocent Australian users.
According to a recent Reuters report, the Australian prosecutors have dropped their case against Forrest due to insufficient evidence to continue pursuing the criminal charges. A representative from the Commonwealth Director of Public Prosecutions announced this decision on Friday.
Regarding this turn of events, Andrew Forrest voiced deep disappointment and labeled the dismissal of the case as a “regrettable outcome” for the unsuspecting victims who had fallen prey to these deceitful crypto schemes, losing their earned funds in the process. On the contrary, Meta maintained that tackling online scams is a “complicated issue,” but pledged to persist in its efforts to safeguard users from such malicious activities.
Andrew Forrest Maintains Charge Against Meta Following Setback
Although the Australian investigation into this matter has been concluded by the authorities, Andrew Forrest continues to pursue legal action against Meta. He has another ongoing lawsuit in California that tackles the same concerns.
Meta, despite challenging this case in the US arguing that American laws don’t apply to online platforms for actions taken by their users or third parties, Forrest asserts that such laws have limited reach beyond US borders. The Australian billionaire is determined to proceed with this legal action in the US, having discovered over a thousand crypto scam ads on Facebook between April 2023 and November 2023.
In the realm of cryptocurrencies, scams continue to pose a significant threat. Immunefi’s statistics reveal that an alarming $14.67 million was stolen through fraudulent activities in Q1 of 2024 alone. These numbers underscore the importance of continually enhancing security protocols within the blockchain community.
Total crypto market valued at $2.348 trillion on the daily chart | Source: TOTAL chart on Tradiingview.com
Read More
- BCH PREDICTION. BCH cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- ZKJ PREDICTION. ZKJ cryptocurrency
- METIS PREDICTION. METIS cryptocurrency
- USD MYR PREDICTION
- PSTAKE PREDICTION. PSTAKE cryptocurrency
2024-04-13 11:11