Patcay.com – Amid scrutiny, the US Attorney’s Office in Virginia is digging into Meta (the parent company of Facebook) over allegations of being a platform for the illicit trade of drugs on its social media platform.
This information surfaced from court documents and several individuals involved in the matter, adding a mysterious dimension to the ongoing investigation.
“The prosecutors have issued subpoenas last year and are now conducting a series of inquiries in a criminal investigation,” the report revealed, adding that they have also requested data related to content associated with the dark web drug trade through the Meta platform.
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The Food and Drug Administration (FDA) is also supporting this investigative effort. It’s important to note that the investigative process doesn’t always result in criminal charges.
“The sale of illegal drugs violates our policies, and we make every effort to find and remove such content from our services,” said a Meta spokesperson.
“Meta actively collaborates with authorities to combat the trade and distribution of illegal drugs,” they added.
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Meanwhile, Meta’s President of Global Affairs, Nick Clegg, stated that the company has partnered with the US Department of State, the UN Office on Drugs and Crime, and Snapchat to curb the online trade of synthetic drugs.
“We also provide education to users about the risks associated with illegal drugs,” tweeted Nick Clegg on platform X, whose identity was kept confidential.
However, on the other hand, shares of Meta Platforms (META), the parent company of Facebook, fell about 4% on Monday, March 11, 2024, after Trump called Facebook the ‘enemy of the people’.
Meta’s shares also dropped 1.2% on Friday following Trump’s posts on Truth Social, where the former president criticized Facebook as the main enemy of the people.
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Meta’s market valuation has dropped more than $60 billion since Trump’s attack began on Thursday night. There seems to be no major news prompting the Meta sell-off, apart from Trump’s condemnation.
“Trump’s comments raise concerns that Facebook will once again become a target of the Washington government. Trump can pressure Meta by blocking the company’s ability to make acquisitions in the future,” said D.A. Davidson analyst Gil Luria.
“If they can’t buy the next flagship product, then their competition will be threatened,” he added.
Currently, public attention is focused on the dynamics between the government and the technology companies, sparking speculation about the political impact on the increasingly complex technology industry.