10:14 AM EDT, 04/12/2024 (MT Newswires) -- Australian prosecutors dropped the criminal case that Australian billionaire Andrew Forrest had filed against Meta Platforms ( META ) for alleged scam cryptocurrency advertisements featuring his face on Facebook, multiple media outlets reported Friday.

The Commonwealth Director of Public Prosecutions on Friday filed a discontinuance motion because of insufficient evidence in the case, which had accused Meta of "blatantly refusing" to act against scam ads, The Guardian reported.

In a statement, Forrest called the dismissal of the case "a tragedy for innocent parents and grandparents who have lost their life savings," Reuters reported.

Meta didn't immediately respond to a request for comment from MT Newswires.

Price: 516.25, Change: -6.91, Percent Change: -1.32