AUSSIE BILLIONAIRE SUES FACEBOOK OVER CRYPTO SCAMS WITH AGS CONSENT

Imagine seeing your face plastered across an online advertisement, endorsing a cryptocurrency scheme you'd never even heard of. Australian billionaire Andrew Twiggy Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims. The Fortescue Metals chairman Aussie billionaire sues Facebook over crypto scams with AG's consentNow, imagine that scheme is a blatant scam, defrauding unsuspecting individuals of their hard-earned savings.This is the reality faced by Australian mining magnate Andrew ""Twiggy"" Forrest, and it's why he's taking on tech giant Meta Platforms (Facebook) in a landmark legal battle. Australian billionaire Andrew Twiggy Forrest is taking Facebook to court over scammy cryptocurrencForrest, the chairman of Fortescue Metals, is accusing Facebook of breaching Australia's anti-money laundering laws by knowingly profiting from scam cryptocurrency ads that use his image and reputation to lure victims. Australian iron ore magnate Andrew Forrest said on Thursday he is launching criminal proceedings against Meta Platforms' Facebook. The billionaire is alleging the social media giant used his likeness in ads that breached anti-money-laundering laws and scammed AustraliansHe alleges that Facebook has failed to remove these fraudulent ads, despite repeated warnings, making them complicit in the scams.With the consent of Attorney-General Michaelia Cash, Forrest is pursuing criminal proceedings under Part 10 of the Commonwealth Criminal Code, setting a precedent that could have major implications for social media platforms and their responsibility for content posted on their sites.

This isn't just about one billionaire fighting for his reputation; it's about protecting everyday Australians from becoming victims of increasingly sophisticated online scams. Aussie billionaire sues Facebook over crypto scams with AG's consent AGs Aussie billionaire consent Crypto Facebook scams sues CryptonewsThe case shines a spotlight on the broader issue of investment fraud in Australia, particularly those involving cryptocurrency. Aussie billionaire sues Facebook over crypto scams with AG's consentThese scams are costing Australians millions of dollars each year and raising serious questions about the role of social media platforms in facilitating and profiting from these illegal activities.

The Rise of Crypto Scams in Australia

Cryptocurrency scams have become rampant in recent years, preying on the growing interest in digital assets. Australian billionaire Andrew Twiggy Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims. The Fortescue Metals chairman is accusingScammers often use sophisticated tactics, including fake endorsements from celebrities and prominent business figures, to build trust and entice victims to invest. Australian billionaire Andrew Twiggy 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 s money-laundering laws, claiming that it knowingly profits from this cycle of illegal ads that it failed to remove.These schemes often promise high returns with little or no risk, a classic red flag for investment fraud.

As reported by Cointelegraph in August 2025, investment scams cost Australian investors over $50.5 million in the first six months of 2025 alone, with cryptocurrency scams accounting for more than 50% of that figure. The Aussie businessman said that Facebook s failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was criminally recklessThis alarming statistic highlights the significant financial damage these scams are inflicting on individuals and the Australian economy. From the source Aussie Billionaire sues facebook over crypto scams with AG s Consent from Keira Wright, talks about how the Australian billionaire is blaming facebook for the latest crypto scamsThe ease with which scammers can create fake profiles and run targeted advertising campaigns on social media platforms like Facebook has further fueled the growth of these fraudulent schemes.

Common Types of Crypto Scams:

• Pump and Dump Schemes: Scammers artificially inflate the price of a cryptocurrency by spreading misleading positive information, then sell their holdings at a profit, leaving other investors with losses.
• Fake Initial Coin Offerings (ICOs): Scammers create fraudulent ICOs to raise funds for nonexistent projects, then disappear with the money.
• Phishing Scams: Scammers use fake websites or emails to trick individuals into revealing their private keys or login credentials, allowing them to steal their cryptocurrency.
• Investment Scams with Celebrity Endorsements: Scammers use stolen images or videos of celebrities to promote fake cryptocurrency investment platforms, falsely implying that these figures endorse the schemes.This is the crux of Forrest's lawsuit against Facebook.

Andrew Forrest's Legal Battle Against Meta Platforms

Andrew Forrest's lawsuit against Meta Platforms centers on his claim that Facebook knowingly profited from cryptocurrency ads that used his likeness to defraud Australians.He argues that Facebook failed to take reasonable steps to prevent these ads from appearing on its platform, despite being aware of their fraudulent nature.

Forrest is accusing Facebook of violating Australia's anti-money laundering laws, specifically by failing to report suspicious activity and by facilitating the transfer of funds derived from illegal activity.He contends that Facebook's algorithms amplify the reach of these fraudulent ads, generating significant revenue for the company while causing substantial harm to victims.

The case is particularly noteworthy because Forrest secured the consent of the Attorney-General to bring criminal charges against Meta Platforms.This is a rare occurrence, as private citizens typically cannot initiate criminal proceedings without the government's approval.The Attorney-General's consent signals the seriousness with which the Australian government is taking the issue of online scams and the responsibility of social media platforms.

Key Arguments in Forrest's Case:

• Facebook knowingly profited from fraudulent ads using Forrest's image.
• Facebook failed to remove the ads despite repeated warnings.
• Facebook breached Australia's anti-money laundering laws.
• Facebook's algorithms amplify the reach of scam ads.

According to court filings, one Australian victim lost a staggering $952,000 AUD after falling for a scam advertised on Facebook that used Forrest's image.This devastating loss underscores the real-world consequences of these online scams and the urgent need for stronger protections.

Meta's Defense and the US Legal Battle

Meta Platforms, the parent company of Facebook, has defended its actions, arguing that it has taken steps to combat scam ads on its platform.The company claims it uses artificial intelligence and human reviewers to detect and remove fraudulent content.However, Forrest's lawyers argue that these efforts are insufficient and that Facebook is not doing enough to protect its users from these scams.Meta also attempted to dismiss the US lawsuit but was rejected by a U.S. judge.

Meta's defense likely hinges on Section 230 of the Communications Decency Act in the United States, which generally protects online platforms from liability for content posted by third parties.However, this protection may not extend to cases where the platform is alleged to have knowingly profited from illegal activity. Forrest is bringing forward the charges under Part 10 of the Commonwealth Criminal Code, with the consent of the Attorney-General Michaelia Cash. According to the filings, one Australian victim lost $952,000 AUD after falling for the scam. The court documents stated that the scam defrauded victims out of millions of dollars.The Australian legal proceedings are separate and operate under different laws, so the outcome of the US case does not necessarily dictate the Australian result.

The legal battle is complex and involves navigating the intersection of technology, law, and ethics.It raises fundamental questions about the responsibility of social media platforms for the content hosted on their sites and their role in preventing online scams.

The Attorney-General's Consent: A Game Changer

The Attorney-General's consent to allow Forrest to pursue criminal charges against Meta Platforms is a significant development. June 18 (Reuters) - A U.S. judge rejected Meta Platforms' (META.O), opens new tab bid to dismiss a lawsuit by billionaire Australian mining magnate Andrew Forrest over scam Facebook advertisementsIt signals a shift in the government's approach to online scams and a willingness to hold social media platforms accountable for their role in facilitating these crimes.

This consent is rare because it essentially allows a private citizen to act as a prosecutor in a criminal case.The Attorney-General's decision suggests that the government believes there is a strong case against Meta Platforms and that the public interest would be served by pursuing criminal charges.

The consent could embolden other victims of online scams to pursue legal action against social media platforms, potentially leading to a wave of lawsuits and greater scrutiny of these companies' practices.

Potential Consequences of a Guilty Verdict:

1. Substantial fines for Meta Platforms.
2. Reputational damage to Facebook and its parent company.
3. Increased regulatory scrutiny of social media platforms.
4. A precedent for holding platforms accountable for user-generated content.

The Broader Implications for Social Media Platforms

The outcome of Forrest's lawsuit could have far-reaching implications for social media platforms worldwide.If Meta Platforms is found liable, it could set a precedent for holding these companies accountable for the content posted on their sites, particularly when it comes to scams and illegal activity.This would likely lead to increased pressure on social media platforms to invest more in content moderation and fraud prevention.

Social media platforms could face stricter regulations and oversight, requiring them to implement more robust measures to detect and remove fraudulent content. Australian billionaire Andrew Twiggy 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 s money-laundering laws, claiming that it knowingly profits from this cycle of illegal ads that it failed to remove. An initial court hearing in theThey might also be required to verify the identities of advertisers and to take greater responsibility for the accuracy of the information shared on their platforms.

The case also raises questions about the balance between free speech and the need to protect consumers from online scams.Social media platforms argue that they should not be held responsible for the actions of their users, but critics contend that these companies have a moral and ethical obligation to prevent their platforms from being used to facilitate illegal activity.The outcome of this case could reshape the legal landscape and redefine the responsibilities of social media platforms in the digital age.

Protecting Yourself From Crypto Scams

While legal battles play out in the courtroom, it's crucial to take proactive steps to protect yourself from falling victim to cryptocurrency scams.Here are some practical tips:

• Be Skeptical of Unsolicited Offers: Be wary of anyone who contacts you out of the blue offering investment opportunities or promising high returns.
• Do Your Research: Before investing in any cryptocurrency, thoroughly research the project, the team behind it, and the technology it is based on.
• Beware of Celebrity Endorsements: Don't rely solely on celebrity endorsements when making investment decisions.Scammers often use stolen images or videos to promote fake schemes.
• Check the Website's Security: Ensure that the website is secure and has a valid SSL certificate.Look for the padlock icon in the address bar.
• Use a Strong Password and Enable Two-Factor Authentication: Protect your cryptocurrency accounts with a strong password and enable two-factor authentication for added security.
• Never Share Your Private Keys: Never share your private keys with anyone, as this is equivalent to giving them access to your cryptocurrency.
• Report Suspicious Activity: If you suspect you have been targeted by a scam, report it to the authorities and to the social media platform where you encountered the scam.

The Future of Online Security and Accountability

Andrew Forrest's lawsuit against Facebook is a watershed moment in the fight against online scams. Australian billionaire Andrew Twiggy Forrest is taking Facebook to court over scammy cryptocurrency adverts that he alleges used his identify to rook victims. The Fortescue Metals chairman is accusative Facebook of breaching Australia's money-laundering legal guidelines, claiming that it knowingly income from this cycle of unlawful adverts that it didn't take away.It underscores the need for greater accountability from social media platforms and for stronger regulations to protect consumers from fraudulent activity.The outcome of this case could have a profound impact on the future of online security and the responsibilities of tech companies in the digital age. As reported by Cointelegraph in Augu 2025, investment scams cost Australian investors more than $50.5 million in the first six months of 2025, with crypto scams contributing to more than 50% ofWhile the ""Atlassian CEO's bonkers scheme to pipe electricity from Australia to Singapore collapses,"" highlighting the complexities and risks associated with large-scale ventures, the pursuit of justice against online platforms remains a crucial endeavor.

The case also highlights the importance of education and awareness.By understanding the tactics used by scammers and taking proactive steps to protect themselves, individuals can reduce their risk of becoming victims of these fraudulent schemes. Aussie billionaire sues Facebook over crypto scams with AG's consent metaplatforms andrewtwiggyforrest australians cryptocurrencyads fortescuemetalsThis lawsuit provides a potent example to Google, who are currently suing app developers, claiming they're Play Store crypto scammers with 100k victims. Forrest has also argued that Facebook makes more money from ads that carry his likeness than would be possible if it excluded them. Atlassian CEO's bonkers scheme to pipe electricity from Australia to Singapore collapses; Google sues app devs, claims they're Play Store crypto scammers with 100k victimsThe fight against online scams is a collective effort that requires the cooperation of governments, tech companies, and individuals.

Conclusion: Holding Tech Giants Accountable

Andrew Forrest's legal action against Facebook, armed with the AG's consent, over scam crypto ads is a landmark case with the potential to reshape the landscape of online accountability.The Australian billionaire's pursuit highlights the dangers of unchecked online fraud, the vulnerability of everyday investors, and the responsibility of social media giants to protect their users. The Aussie businessman said that Facebook s failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was criminally reckless. Australian billionaire Andrew Twiggy Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims.Whether Facebook's defenses will hold remains to be seen, but the suit is already sending a powerful message: platforms cannot profit from scams with impunity.Key takeaways include:

• Social media platforms must be held accountable for fraudulent content.
• Individuals should be vigilant and educate themselves about crypto scams.
• Regulatory oversight of online platforms is crucial for consumer protection.

This case represents a significant step toward creating a safer online environment and ensuring that tech companies are held responsible for the harm caused by the content they host.As the legal battle unfolds, it will be closely watched by governments, regulators, and consumers around the world, as it could set a new precedent for the responsibilities of social media platforms in the digital age.If you believe you have been a victim of a similar scam, seek legal advice.Stay informed, stay vigilant, and remember that if something sounds too good to be true, it probably is.