Elon Musk's Twitter takeover being probed by SEC
The investigation — which escalates a long-running feud between the SEC and Musk — concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which Musk renamed X, as well as statements and SEC filings he made in relation to the deal.
The SEC said it subpoenaed Musk in May 2023 requiring him to provide testimony at the SEC’s San Francisco office, and that Musk had agreed to appear on Sept. 15. But then two days beforehand Musk raised "several spurious objections" and told the SEC he would not appear, the SEC said. Musk also refused to SEC proposals to conduct the deposition in Texas in October or November.
Among his objections was that the SEC was trying to “harass” him and that his counsel needed time to review potentially relevant material contained in a biography of Musk published last month, the SEC said.
Couldn't be happening to a more deserving guy. Between the racism lawsuits, his ex-girlfriend lawsuit, investor lawsuits, former executive suing him, and now the SEC? I hope this is the year we take all of Elon's money.
Just shows how weak our government is against the rich. If the SEC order any of us to appear we would appear or go to jail. These fucker can even ignore subpoena.
They couldn't even enforce their settlement with him over the fraud he was investigated for at Tesla. Which doesn't even count all the fraud they turned a blind eye to.
Cause the SEC is a civil enforcement group.
They can't arrest you
I'm extremely aware of what the SEC is. They explicitly chose not to go back to court when Musk refused to abide by the terms of the agreement that was further clarified by the court after he refused to abide by the settlement terms initially.
Having to type a whole extra paragraph just to make pedants happy makes the internet suck.
How extremely, exactly?
Less than Musk, but enough to not need it explained. I've done IT consulting work for a company that was being investigated.
This is as far as I feel comfortable going tonight.
All of this could be why he’s slowly morphing into Kathy Bates, he’s looking for a disguise we might trust.
I know a guy whose ankles would disagree strongly with that assesment
The only hypothesis that makes sense so far, IMO.
Maybe he and Trump can share a cell together.
Even if we could just take away 99.9999%, that would be nice. He'd still be several times wealither than the average american his age.
That's acceptable to me, look what he pisses his money away on. The other .0001% would be gone quickly.
As much as I would love for that to happen, money just gets shuffled around between companies and people like cards at a casino. It's exceptionally easy to launder it when you're that wealthy.
And then even if you do somehow manage to remove all his assets, he still maintains his existing social networks and connections, which may be enough to get him back to a similar position.
Prison is necessary if he has committed financial crimes. Anything less is merely finger-wagging.
Yeah, I mean, none of us are that lucky. But is a life without dreaming a life worth living?
It's the wrong day for me to answer that question too honestly, but I understand your point. Keep on dreaming and living the dream, friend.
musk reportedly burns a lot of bridges (you have to in order to get that filthy rich)