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Billionaire Maezawa demands one yen in damages from Meta over fraud misuse | Scoop

Yusaku Maezawa - screengrab — Yusaku Maezawa's legal action aims to deter fraud and make it easier for victims to seek compensation, as scams using Facebook and other social media platforms cost Japan US$178 million in losses last year. – Screengrab pic, May 15, 2024

Billionaire Maezawa demands one yen in damages from Meta over fraud misuse

He is suing the tech giant and its Japan unit for ‘not making efforts’ to stop the use of his name and image by fraudsters on their platforms

Scoop Reporters

Updated 16 May, 2024

16 May, 2024

12:09 AM MYT

KUALA LUMPUR – Japanese billionaire Yusaku Maezawa is suing tech giant Meta and its Japan unit for “not making efforts” to stop the use of his name and image by fraudsters on their platforms.

His image and name are commonly used to lure victims into investment scams.

“I hope to clarify whether their actions are legal or not,” he posted on X in Japanese, adding he is demanding one yen in damages from Meta.

“If they’re deemed illegal, it will make it easier for fraud victims to claim compensation, and it will be a major step towards deterring fraud.”

He also tweeted the court documents that were filed at the Tokyo district court, along with the caption above.

Scams using Facebook and other social media platforms cost Japan US$178 million in losses last year, according to the National Police Agency.

In April, Facebook was sued by four people in Japan after they were defrauded by online investment ads that misused images of wealthy personalities, such as Maezawa. – May 15, 2024

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