{"id":402997,"date":"2022-02-03T06:01:39","date_gmt":"2022-02-03T03:01:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aussie-billionaire-sues-facebook-over-crypto-scams-with-ags-consent\/"},"modified":"2022-02-03T06:01:39","modified_gmt":"2022-02-03T03:01:39","slug":"aussie-billionaire-sues-facebook-over-crypto-scams-with-ags-consent","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aussie-billionaire-sues-facebook-over-crypto-scams-with-ags-consent\/","title":{"rendered":"# Aussie billionaire sues Facebook over crypto scams with AG&#8217;s consent"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33bdbe909e3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33bdbe909e3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/aussie-billionaire-sues-facebook-over-crypto-scams-with-ags-consent\/#Scam_has_been_ongoing\" >Scam has been ongoing<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Aussie billionaire sues <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> over crypto scams with AG&#8217;s consent <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Australian billionaire Andrew \u201cTwiggy\u201d Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims.<\/p>\n<p>The Fortescue Metals chairman is accusing Facebook of breaching Australia\u2019s money-laundering laws, claiming that it \u201cknowingly profits from this cycle of illegal ads\u201d that it failed to remove. <\/p>\n<p>An initial court hearing in the Western Australian Magistrates court is scheduled for Mar. 28, with a committal hearing expected later in 2022. <\/p>\n<p>Forrest is bringing forward the charges under Part 10 of the Commonwealth Criminal Code, with the consent of the Attorney-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Michaelia Cash.<\/p>\n<p>According to the filings, one Australian victim lost $952,000 AUD after falling for the scam. The court documents stated that the scam \u201cdefrauded victims out of millions of dollars.\u201d<\/p>\n<blockquote><p>\u201cThese scenarios played out in the underlying scam which used Dr Forrest\u2019s name, likeness, and reputation to find victims, who often reported being swindled after believing Dr Forrest was actually endorsing the investment scheme.\u201d <\/p><\/blockquote>\n<p>Forrest\u2019s lawyers said that although they do \u201cnot know the precise number or identities of the individuals defrauded by reason of this vicious scam, the scope of the harm is vast.\u201d <\/p>\n<p>They added that he has spent \u201chundreds of thousands of dollars\u201d to distance himself from the scam since March 2019, when it first started being promoted on Facebook. <\/p>\n<p>The complaint claims that Facebook\u2019s access to user data has been a leading \u201ccontributor to the proliferation of illegal advertisements, \u201cfake <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\u201d and other unwanted internet material\u201d. Forrest added that the company\u2019s failure to remove the fraudulent ads was \u201ccriminally reckless.\u201d <\/p>\n<p>A spokeswoman for Facebook\u2019s parent company, Meta Platforms, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theaustralian.com.au\/nation\/andrew-twiggy-forrest-takes-on-facebook-in-court-over-scam-ads\/news-story\/e16ae21c93c84b7ef4518c0373480cef\">told<\/a> The Australian that it is taking a \u201cmultifaceted <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to stop these ads\u201d by detecting the ads, blocking the fraudulent advertisers, and in some cases, taking court action. <\/p>\n<p>However, Forrest believes that the social media giant should be doing more to prevent fraud from being spread on its platform. Because the scammers are mostly located overseas, Forrest says that they \u201ccan\u2019t be easily tracked down.\u201d <\/p>\n<p>He added that \u201cthe best way to protect Australians is to deter Facebook \u2014 through a criminal prosecution \u2014 from allowing itself to be used as an instrument of crime.\u201d<\/p>\n<p>\u201cFacebook has shown little appetite to self-regulate or take basic steps to protect Australians from the misuse of its platform by crooks and scammers, so I\u2019ve been left with no other option than to take this action,\u201d he said.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/79b8efea-f5ad-4e77-8748-37d25c949bbe.jpg\"><figcaption style=\"text-align: center;\">Twiggy Forrest has been fighting against these crypto scams for years now.<\/figcaption><\/figure>\n<p>If found guilty by the Australian courts, Facebook could face fines and be compelled to change the way its advertising works.<\/p>\n<p>The businessman also lodged a separate lawsuit with the Superior Court of California last September, seeking injunctive relief. The case is still pending, with the date of the civil case yet to be set. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Scam_has_been_ongoing\"><\/span>Scam has been ongoing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In 2019, Forrest was among several Australian celebrities who were falsely quoted giving testimony for a fraudulent cryptocurrency, including Kate Winslet. One scam quoted the celebs in fake mainstream news articles advertising a fake Bitcoin investment platform. <\/p>\n<p>In 2020 the Australian Securities and Investments Commission issued a warning on fake celebrity-endorsed crypto ads, including Aussies like High Jackman, Nicole Kidman and Waleed Aly. <\/p>\n<p>Other celebrities including Elon Musk, Bill Gates and Richard Branson have also had their image stolen to front crypto scams.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Australians lost over $25 million to bogus crypto investments: Report<\/em><\/strong><\/p>\n<p>Forrest sent an open letter to Meta Platforms CEO Mark Zuckerberg in Nov 2019 requesting the platform to remove the fraudulent ads and prevent his image being used in the future. <\/p>\n<p>As reported by Cointelegraph in Aug 2021, investment scams cost Australian investors more than $50.5 million in the first six months of 2021, with crypto scams contributing to more than 50% of the losses.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/aussie-billionaire-sues-facebook-over-crypto-scams-with-ag-s-consent\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Aussie billionaire sues Facebook over crypto scams with AG&#8217;s consent &#8221; Australian billionaire Andrew \u201cTwiggy\u201d Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims. The Fortescue Metals chairman is accusing Facebook of breaching Australia\u2019s money-laundering laws, claiming that it \u201cknowingly profits from this cycle&#8230;<\/p>\n","protected":false},"author":1,"featured_media":402998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvYTAwODcxMzEtN2ZjMC00MzM3LTk5OWMtMWE1NDc0ODBkOGIxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75023,20358,71433,70934,71101],"class_list":["post-402997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-scams","tag-australia","tag-court","tag-regulation","tag-scams"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/402997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=402997"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/402997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/402998"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=402997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=402997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=402997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}