Judge Rules in Favor of Andrew Forrest in Crypto Ad Scam Lawsuit Against Meta
Australian billionaire Andrew Forrest’s lawsuit against Meta over cryptocurrency ad scams featuring his image will proceed, according to a ruling by U.S. District Court Judge Casey Pitts. Forrest alleges that Meta was negligent in hosting the fraudulent ads and argues that the company was complicit in their production. The judge’s decision allows Forrest to pursue his claims that Meta profited from ads using his likeness and that the platform played a role in determining the content and audience of the advertisements.
Forrest first became aware of the scams in 2019 and claims that over 1,000 ads ran between April and November last year, causing victims to lose millions of dollars. Some of the ads included fabricated testimonials and manipulated videos of Forrest. Despite Meta’s initial assurances to address the issue, many of the ads remain active.
Meta has attempted to shift responsibility to third-party users who create the ads but has expressed sympathy for those affected. Earlier this year, prosecutors in Australia dropped criminal charges against Meta due to insufficient evidence. However, Pitts’ ruling opens the door for Forrest to hold Meta accountable for its involvement in the crypto ad scheme.
Forrest, Australia’s second richest individual with an estimated net worth of $16.5 billion, sees the ruling as a significant step in his fight to make Meta answer for its actions. He describes it as a “crucial strategic victory in the battle to hold Facebook accountable,” referring to Meta’s parent company.
