Australian mining billionaire Andrew Forrest faced a setback in his legal battle against Meta as government prosecutors dropped criminal charges he brought against the social media giant over scam cryptocurrency ads featuring his likeness. Chief Judge Julie Wager accepted the submission to discontinue the charges, citing insufficient evidence.
Forrest, also known as “Twiggy,” accused Meta of violating Australia’s money laundering laws by allowing the fraudulent ads on Facebook. Private prosecutions are rare in Australia, with serious charges like Forrest’s typically handled by the Commonwealth Director of Public Prosecutions (CDPP).
Despite the setback, Forrest vowed to continue his fight for legal reform to hold foreign-owned social media platforms accountable. He criticized Facebook for not taking action against the fraudulent advertising that has harmed innocent victims. A civil lawsuit filed by Forrest against Meta in California is ongoing.
With an estimated net worth of $18.7 billion, Forrest is Australia’s second richest person. The majority of his wealth comes from Fortescue Metals Group, which he founded in 2003. He has recently focused on green energy initiatives and philanthropy through his Minderoo Foundation.
The incident highlights ongoing concerns about tech companies’ efforts to combat scams on their platforms. Meta expressed sympathy for those impacted by the crypto scheme and reiterated its commitment to preventing scams and protecting users. The case sheds light on the challenges of regulating online platforms and the need for stronger measures to address fraudulent activities.