The Aussie billionaire says that he’s spent hundreds of thousands trying to warn the public about the scammy crypto ads.
Australian billionaire Andrew “Twiggy” Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims.
Forrest is bringing forward the charges under Part 10 of the Commonwealth Criminal Code, with the consent of the Attorney-General Michaelia Cash. Forrest’s lawyers said that although they do “not know the precise number or identities of the individuals defrauded by reason of this vicious scam, the scope of the harm is vast.”
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 “can’t be easily tracked down.”