Topline
Australian minerals billionaire Andrew Forrest faced a major setback in a legal fight against Meta on Friday after government prosecutors dropped his criminal case against the social media giant over scam cryptocurrency ads he said featured his face, amid ongoing concerns tech companies are failing to do enough to combat the dubious schemes that still plague their platforms.
Key Facts
Chief Judge Julie Wager of the Western Australia District Court on Friday accepted a submission from the Commonwealth Director of Public Prosecutions (CDPP) to discontinue three criminal charges Forrest had brought against Meta.
Forrest, often known by the nickname “Twiggy,” accused the social media giant of breaking Australia’s money laundering laws for failing to act against scam cryptocurrency ads using his name and likeness on Facebook.
Private prosecutions are rare in Australia—criminal prosecutions are normally led by the state—and typically restricted to lower courts, with serious charges like those leveled by Forrest needing to be heard in a higher court and prosecuted by the CDPP.
A CDPP spokesperson did not provide details on why the case had been discontinued but told Reuters there was insufficient evidence to continue the case.
Forrest said the incident “shows that Facebook is beyond the laws of Australia,” the Guardian reported, adding “that scams will continue to run rampant with no recourse for those who are duped by increasingly sophisticated technology on social media platforms that take no responsibility.”
A Meta spokesperson told Reuters scams were a complicated matter that affect every platform and that company’s “sympathy goes out to people who have been impacted” by the crypto scheme, adding: “Meta doesn’t want scams on its platforms and we will continue to work tirelessly to prevent them and protect our users.”
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What To Watch For
Forrest has vowed to continue his fight and campaign for legal reform to allow action to be taken against foreign-owned social media platforms like Facebook. He accused Facebook of doing “nothing about this fraudulent advertising” that is “hurting the innocent.” He said “politicians must take responsibility on behalf of ordinary mums and dads” who have lost their savings to such scams. A separate civil lawsuit Forrest has filed against Meta over the ads is ongoing in California.
Forbes Valuation
Forrest is worth an estimated $18.7 billion. His fortune makes him Australia’s second richest person, behind another mining magnate, Gina Rinehart, and he is the 102nd richest person in the world. The majority of Forrest’s wealth comes from iron ore giant Fortescue Metals Group, which he founded in 2003, and he has recently pivoted towards green energy. He and wife Nicola confirmed their separation last year but said the split will have “no impact” on their business and philanthropic interests, which includes his Minderoo Foundation.
