SYDNEY, April 12 (Reuters) - Australian prosecutors have

discontinued mining magnate Andrew Forrest's criminal

prosecution of Meta over what he said were thousands of

scam cryptocurrency advertisements on Facebook that feature his

face.

The decision is a setback for Forrest, the 37% owner of iron

ore producer Fortescue Metals Group and Australia's

second-richest person, in his quest to hold the internet giant

accountable for the ads. A separate civil lawsuit he has filed

against Meta over the ads in California is ongoing.

A spokesperson for the Commonwealth Director of Public

Prosecutions said on Friday that the department had found there

was insufficient evidence to continue the prosecution, but did

not elaborate.

Forrest has accused Meta of breaking Australia's anti-money

laundering laws by allowing third-party scammers to use its

software and platform to advertise fake cryptocurrency schemes

that feature photos of his face, leading people to believe he

had endorsed them.

He had pursued the lawsuit under Australian laws that allow

an individual to criminally prosecute a foreign corporation with

the consent of the attorney general.

Forrest said in a statement that the decision to dismiss the

case was "a tragedy for innocent parents and grandparents who

have lost their life savings."

A spokesperson for Meta was not immediately available for

comment.

Forrest added that he would continue to pursue the

California case, in which he accuses the U.S. firm of taking

insufficient steps to prevent the advertisements.

In a filing for that case, Forrest said Meta promised him in

2019 that it would help remove the scam advertisements featuring

his face, but that the ads kept appearing for Australian

Facebook users, resulting in hefty losses for people who were

duped.

The social media giant has argued that a U.S. law exempts

internet platforms from responsibility for content posted by

third parties and has sought to have Forrest's lawsuit

dismissed. Forrest contends that Meta's argument is invalid,

arguing that the U.S. law only applies domestically.

From April 2023 to November 2023, more than 1,000 such

advertisements appeared on Facebook, Forrest's filing said.