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  HOME PAGE 23/05/2024 12:29 
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Japanese Billionaire Sues Meta Over Fraudulent Ads

15.05.2024 19:27

He would like to clarify whether their actions are 'illegal or legal,' Yusaku Maezawa says, adding if actions are found to be illegal, it will serve as significant deterrent to future fraud.

Yusaku Maezawa, a Japanese billionaire, announced on Wednesday that he had filed a lawsuit against US tech giant Meta and its Japan unit for unauthorized use of his name and image in advertisements to entice ordinary people to invest.

Maezawa sued the company for false advertisements by online fraudsters that displayed his picture to imply that he endorsed investment opportunities.

"I would like to first clarify whether their actions are illegal or legal," said the billionaire entrepreneur and art collector in a statement on X, displaying documents from his lawsuit at the Tokyo District Court.

He said they requested that Meta provide specific details about the measures in place to prevent fraudulent advertisements.

Maezawa emphasized that if the actions are found to be illegal, it will serve as a significant deterrent to future fraud.

Previously, four people in Japan accused Meta of neglecting its responsibility to assess harm to customers and verify the authenticity of advertisements and sued the company.

According to Japan's national police agency, social media scams in Japan totaled 27.8 billion yen ($179 million) in 2023, with prominent figures' names frequently used without their consent. -



 
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