Meta enters a not-guilty plea for carelessly managing cryptocurrency scams

As the social media behemoth defends itself against claims that it carelessly enabled clickbait cryptocurrency fraud ads posing as mining millionaire Andrew Forrest, Facebook parent company Meta entered a not guilty plea to criminal charges on Wednesday.

The Guardian states that Meta was charged with three charges of negligently handling earnings worth $1,000 or more that originated from the crypto scam advertisements. The company’s plea was heard in Armadale Magistrates Court after this.

Despite Forrest’s repeated demands that Meta remove the advertising, the corporation allegedly did nothing when the case was first filed in February of last year. He said Meta was breaking anti-money-laundering regulations.

Forrest is now required to turn over a stack of papers that have been the subject of contention between his legal team and Meta’s throughout the proceedings. However, Meta won’t be able to use the received papers in subsequent circumstances like this one.

Meta admitted to publishing “false, misleading, and defamatory” cryptocurrency advertisements on Facebook in 2019 using the picture of Qatari billionaire Wissam al Mana as part of a recent settlement with the billionaire.

There is legal litigation going on in Ireland over crypto scam advertisements that were published by Google and a prominent Irish politician named Tánaiste Mícheál Martin. The advertisements once again enticed viewers into a cryptocurrency fraud by using the image of a notable figure. Google is now practically obliged to provide Martin with the data of the crypto ad fraudsters upon his request, thanks to this lawsuit.

Furthermore, in 2021, Forrest also took legal action against Facebook in California. On February 9, he will be back in court for his ongoing lawsuit in Australia.

Also Read: Cardano Foundation works with big oil company in Brazil to promote blockchain December 21, 2023