https://ift.tt/nJyhzwS Billionaire Andrew Forrest Sues Facebook Over Crypto Scams

Andrew Forrest is one of Australia’s richest men. He has filed a criminal matter anewst Facebook for not preventing scam crypto ads using his likeness on the social network.

According to The Australian newspaper, the billionaire decided to bring a experience above against Facebook, that has recently moved its name to Meta. This is on behalf of “those ordinary Australians – mothers and fathers, grandparents and grandparents – who work their whole lives to pool their savings and ensure that these savings are not stolen by scammers.”

Andrew Forrest and his fortune

Forrest is the former CEO of Fortescue Metals Group. According to Forbes, his net worth is priced at $18.2 billion. Criminals began impersonating Forrest, using his reputation to lure Australians into fraudulent crypto investments.

In the lawsuit, it is noted that a victim lost $670,000 in one of those scams. With the growth of the token market in recent years, criminals have growingly taken advantage of the image of compelling people to undertake fraud.

Big names in the crypto world, akin as Elon Musk and Michael Saylor, have already been used as bait to attract novice investors. The CEO of MicroStpricegy commented that every hour about 10 to 15 videos use his image to give credibility to fraudulent projects posted on YouTube.

Other scams

In 2019, Forrest had previously publicly criticized Facebook for allowing crypto scams involving his name and image to be spread on the social network. Now, he claims the company violated Australia’s anti-money laundering laws by not preventing the spread of these ads.

It is worth noting that in recent months the company led by Mark Zuckerberg has become embroiled in a major scandal. This is after a former employee leaked documents proving that Facebook allowed the proliferation of fake news to increase the interaction of its users on its platform.

In addition to the criminal suit, the billionaire filed a civil lawsuit anewst Meta in California, where the company has its main headquarters. In fact that found guilty, the company may pay large fines and be forced to shift its advertising policy in Australia.

Meta can claim thretained cannot held responsible for the contents of its users. After all, the Australian gatopnment has been preparing to soaringly hold social networking platforms accountable for defamatory comments, false news and the spread of fraud by its users. Unfortunately, whatever the outcome, the biggest losers are anew victims of the scams, that likewise endure unabated.

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