Japan billionaire sues Meta over celebrity investment scams

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Billionaire,Sues,Meta

TOKYO – Japanese billionaire Yusaku Maezawa said on Wednesday he has sued US tech giant Meta and its Japan unit over the use of his name and image in fraudulent investment ads on their platforms.

Online fraudsters commonly use Maezawa's name and picture without his permission to lure victims. One typical advert captions his image: 'Started with 10,000 yen . Gained 1.3 million yen in four days.'Online hoaxes posted on Facebook and other social media channels in Japan led to 27.8 billion yen in losses last year, according to the National Police Agency.

'He posted a screenshot of court documents on X which showed the lawsuit was filed at the Tokyo District Court.Maezawa, who became famous internationally after paying to go to the Moon on a future mission operated by Elon Musk's SpaceX, has previously urged the Japanese government to act.According to public broadcaster NHK, Japan's ruling Liberal Democratic Party is working on plans to counter online investment scams that abuse celebrities.

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