Sunday February 16, 2020

Drama turns to crisis as SEC sues for fraud

It looks like Elon Musk’s penchant for low-end theatrical gestures could scupper him in the end, writes Emmet Ryan

Emmet Ryan

Technology Correspondent

30th September, 2018

The tide may be finally turning for Elon Musk as the US Securities and Exchange Commission (SEC) has filed fraud charges against the entrepreneur.

The charges stem from a tweet he sent in August saying he was considering taking Tesla, his troubled electric car business, private with Saudi investment.

The specific tweet –“Am taking Tesla private at $420. Funding secured”– was redolent of the billionaire’s habit of trying to divert attention whenever something controversial is...

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