Swedish lawyer Lars Olofsson was given permission by a court in Lule, Sweden, to continue the action against CEO of Meta Platforms Inc. META Mark Zuckerberg.
According to the lawsuit, Facebook’s platform is accountable for its involvement in the current marijuana investment scheme JucyFields.
Olofsson was aware of the deception, which had an effect on hundreds of thousands of people worldwide. The lawyer is already preparing to bring a class action lawsuit against a number of social and mainstream media outlets, which he claims assisted in the scheme’s advancement.
At the time, Olofsson said to Green Market Report, “I’m now pursuing legal action against Facebook, Google GOOGL, CNN, and YouTube, to start with. All of them have permitted JuicyFields to advertise on respective platforms or publications, in addition to running regular accounts.
Additionally, Olofsson intends to criticize the governments of Germany, the Netherlands, Switzerland, and Cyprus for “a severe absence of their financial authority, having not seen what was going on.”
At the time of the platform’s collapse, which revealed the truth of fraud, there were approximately 125,000 investor accounts on it. Although Olofsson estimates the $2 billion to $2.5 billion in those 125,000 accounts is likely long gone, he is still representing about 800 litigants.
Olofsson stated, “I know they have fled with the money.
What About Due Diligence, Tech Giants?
By taking on internet behemoths for lack of due diligence on illegal operations carried out by their clients, marketers, and affiliates, Olofsson appears to be setting a precedent. He is going after the big banks and media companies since they helped make JucyField’s unlawful activities feasible and also benefitted from them.
Large organizations haven’t done their due diligence on the companies they’ve done business with, banks have failed miserably at compliance, and government officials haven’t noticed what’s been going on for a while, according to Olofsson. Additionally, according to Going After Zuckerberg, “a number of well-known people who have been supporting cannabis legalization and ‘cleaning up’ the cannabis market have been employed by JuicyFields and have received significantly higher than customary consultancy fees.”
In 2011, Meta opened its first data center outside of the United States in Lule, which is just within the Arctic Circle. This facility serves “nearly a billion Facebook and Instagram users, which includes most of my clients,” according to Olofsson. “This is where the crime was committed, according to the argument. My clients have been exposed to JuicyFields’ fraud through these servers.
According to the lawsuit, “the main marketing was done through social media where they engaged with potential investors and developed groups where they could interact and foster a sense of community and also suggest others to come along and make an investment.”