News on Medial

Australian prosecutors drop billionaire Andrew Forrest's case against Meta

Economic Times · 1y

Australian prosecutors have dropped criminal charges against mining magnate Andrew Forrest's prosecution of Meta (formerly known as Facebook) over thousands of scam cryptocurrency ads that used his image. This setback follows Forrest's attempt to hold the social media giant accountable for these ads. However, a civil lawsuit filed in California against Meta is still ongoing. Forrest accused Meta of breaching Australia's anti-money laundering laws by allowing scammers to use its platform to promote fake cryptocurrency schemes, leading people to believe he endorsed them. Forrest plans to continue pursuing the California case.