Top line
Australian metals billionaire Andrew Forrest faced a major setback in his legal battle against Meta on Friday after government prosecutors dropped his criminal case against the social media giant over fraudulent cryptocurrency ads that he said showed his face, amid lingering concerns that tech companies are failing to do enough. Combating the suspicious schemes that continue to plague their platforms.
Andrew Forrest has filed a criminal case against Meta over Facebook cryptocurrency ads bearing his image and … [+]
Key facts
Chief Justice Julie Wager of the District Court of Western Australia on Friday accepted an application from the Commonwealth Director of Public Prosecutions (CDPP) to stay three criminal charges brought by Forrest against Meta.
Forrest, often known by the alias “Twiggy”, accused the social media giant of violating Australian money laundering laws for failing to act against fraudulent cryptocurrency ads using his name and likeness on Facebook.
Private prosecutions are rare in Australia – prosecutions are usually led by the state – and are typically confined to lower courts, where serious charges such as those brought by Forrest need to be heard in a higher court and tried by the CDPP.
A CDPP spokesman did not provide details about why the case was discontinued but told Reuters that there was not enough evidence to continue the case.
The Guardian said Forrest said the incident “shows that Facebook is bypassing Australia's laws”, adding that “scams will continue to spread without recourse from those being duped by increasingly sophisticated technology on social media platforms that take no responsibility”. “
A Meta spokesman told Reuters that fraud is a complex issue that affects every platform, and that the company's “sympathies are with the people affected” by the cryptocurrency scheme, adding: “Meta does not want fraud on its platforms and we will continue to do so.” We work tirelessly to prevent them and protect our users.
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Forrest pledged to continue his fight and campaign for legal reform to allow action against foreign-owned social media platforms such as Facebook. He accused Facebook of doing “nothing about these fraudulent ads” that “harm innocent people.” “Politicians must take responsibility on behalf of ordinary mothers and fathers” who have lost their savings to such scams, he said. A separate civil suit filed by Forrest against Meta over the ads is ongoing in California.
Forbes rating
Forest is worth an estimated $18.7 billion. His wealth makes him the second richest person in Australia, behind another mining magnate, Gina Reinhart, and the 102nd richest person in the world. The majority of Forrest's fortune comes from iron ore giant Fortescue Metals Group, which he founded in 2003, and he has recently turned towards green energy. He and his wife Nicola confirmed their separation last year, but said the split would have “no impact” on their business and charitable interests, including the Mindero Foundation.
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