Mining magnate's criminal case against Facebook over fraudulent crypto ads dropped

Billionaire Andrew 'Twiggy' Forrest's bid to hold Facebook's parent company Meta to account in Australia over an alleged cryptocurrency clickbait advertising scam has been hindered. The mining magnate launched a criminal case against the social media giant , accusing it of being criminally reckless in allowing bogus ads for a cryptocurrency investment scheme using his image to appear on its site.

"Meta hides behind the lie that it does not do business in Australia, hiding behind a US entity." When Forrest launched the case in 2022 it was the first time Meta had been prosecuted with criminal charges — three counts of recklessly dealing with proceeds of crime to the value of $1,000 or more — related to its social media platform.

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