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Date: 4 months ago   Category: Finances

Elon Musk is threatened by prison term on a charge of fraud


Elon Musk.
The Securities Commission and the U.S. Department of Justice suspect the founder of Tesla and SpaceX of manipulation of the market. Musk's post about possible redemption of stocks of Tesla at the price of 420 dollars apiece Elon Musk became the reason. Photo: Securities and Exchange Commission and the U.S. Department of Justice have shown Brian Snyder/Reuters to the founder of Tesla Elon Musk of charge of fraud, the publication of false data and deception of investors. The large penalty, and at worst even prison can threaten the businessman. Bloomberg reports about it. Musk's post on Twitter about possible redemption of stocks of Tesla at the price of 420 dollars apiece became on August 7 the reason. Pointing also to other messages of Musk, the commission has said that the billionaire has misled investors when wrote about support of repayment from the investor found him. The American supervisory authority has counted these actions as fraud as the head of Tesla has artificially raised stock prices and has forced all to buy up securities what I have earned from. After actions have reached peak, he has just refused the statement. Now the rights to operate the company can deprive of Musk. Besides, the billionaire will have to pay to other shareholders nearly 1 million dollars (in so many they have estimated losses from his untrue reports). In Securities and Exchange Commission an inspection in Musk's relation was carried out a tweet even before. There have become interested in validity of statements of Tesla for the production purposes and the planned sales volumes of cars. Musk at the end of August has said that Tesla will remain the public company, having referred to problems with the investor. For the last several weeks of Tesla have abandoned several top managers at once. This Wednesday, September 26, the company has lost the vice-president Liam O'Connor who was responsible for global deliveries. At the same time Musk at the beginning of last week admitted the letter to one of clients that Tesla has ended up in "logistic hell", than and interruptions in deliveries of ready cars are caused. At the same time he has promised that he will solve all problems shortly. One more count of the commission in Musk's relation makes this history more curiously. Allegedly, the price of 420 dollars has been taken for an action not just like that: in the American culture number "420" is a meme about the marijuana use. According to accusers, Musk has chosen such price to joke and impress the girl the singer of Grimes. Now the joke about soft drugs can cost to the billionaire of the large sum of money, a role in the companies or even freedoms. Official reaction of the head of Tesla is quoted by the observer of CNBC Filip Lebo: "Unreasonable actions of the commission have deeply upset and have disappointed me. I always acted for the benefit of the truth. Honesty is the most important value of my life, the facts will confirm that I have never compromised myself". Especially it isn't necessary to get a grasp of this statement, it how the ordinary large businessman would react to charge of fraud from the U.S. Securities and Exchange Commission. It is difficult to draw any conclusions hey yeah

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