Forrest v. Facebook, Inc
- Jay-Cheng Shiwbalak
- Aug 8, 2023
- 2 min read
Case Number: 5:2022cv03699
Date Filed: June 23, 2022
Case Summary: This case is about Australian Billionaire Andrew Forrest's legal battle against Facebook in his home country. He accuses the social media giant of violating anti-money laundering laws by allowing criminals to post cryptocurrency scam advertisements using his name and image without permission. These criminals capitalized on Mr. Forrest's reputation as a successful businessman to deceive victims into believing their fraudulent schemes were legitimate. According to Mr. Forrest, he has been requesting Facebook to remove the content since 2019, but his pleas have gone unanswered. The case is scheduled to be heard by a magistrates court in Western Australia in late March 2022. If successful, this legal action may prompt Facebook and other social media platforms to reconsider how they publish advertisement content.
Judgment Result: US District Judge Edward Davila on Wednesday granted Meta’s request to stay the litigation until Aug. 17, finding that proceeding with civil litigation in the US would undermine Meta’s right to not produce evidence and documents in Australia, where Forrest initiated a private criminal prosecution over ads.
Additional Information: Given the current regulatory landscape, which offers limited consumer protection and imposes limited liability on technology platforms, it becomes crucial for individuals considering purchasing cryptocurrencies from online advertisements to conduct extensive due diligence before investing their money. The ease with which scam advertisements, especially for cryptocurrencies, can be created and uploaded to social media platforms has exacerbated the issue. Even when social media platforms are taking appropriate measures to remove such content, there remains a significant risk. During the time between the upload and takedown of these fraudulent ads, many unsuspecting individuals may fall victim to these scams, resulting in substantial financial losses. Therefore, it is more important than ever for potential investors to exercise caution and thoroughly research any cryptocurrency offerings they encounter online.
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