this post was submitted on 05 Oct 2023
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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.

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[–] drdabbles@lemmy.world 126 points 2 years ago (4 children)

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.

[–] Fredselfish@lemmy.world 65 points 2 years ago (2 children)

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.

[–] drdabbles@lemmy.world 30 points 2 years ago (1 children)

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.

[–] Pieisawesome@lemmy.world -5 points 2 years ago (1 children)

Cause the SEC is a civil enforcement group.

They can't arrest you

[–] drdabbles@lemmy.world 17 points 2 years ago (1 children)

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.

[–] emptiestplace@lemmy.ml -5 points 2 years ago (1 children)
[–] drdabbles@lemmy.world 5 points 2 years ago (1 children)

Less than Musk, but enough to not need it explained. I've done IT consulting work for a company that was being investigated.

[–] emptiestplace@lemmy.ml -3 points 2 years ago

This is as far as I feel comfortable going tonight.

[–] spider@lemmy.nz 4 points 2 years ago

i.e., excessive wealth deferment

[–] TheGoldenGod@lemmy.world 28 points 2 years ago (2 children)

All of this could be why he’s slowly morphing into Kathy Bates, he’s looking for a disguise we might trust.

[–] downpunxx@kbin.social 11 points 2 years ago

I know a guy whose ankles would disagree strongly with that assesment

[–] drdabbles@lemmy.world 7 points 2 years ago

The only hypothesis that makes sense so far, IMO.

[–] WhatsHerBucket@lemmy.world 11 points 2 years ago

Maybe he and Trump can share a cell together.

[–] WalrusDragonOnABike@kbin.social 7 points 2 years ago (1 children)

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.

[–] drdabbles@lemmy.world 5 points 2 years ago

That's acceptable to me, look what he pisses his money away on. The other .0001% would be gone quickly.

[–] bostonbananarama@lemmy.world 23 points 2 years ago

I think you're confusing harassment with oversight. You know, the entire point the SEC exists.

[–] Pratai@lemmy.ca 19 points 2 years ago

Watch how quickly nothing continues to happen.

[–] Mago@lemmy.world 14 points 2 years ago (1 children)

Lets be real - someone this rich will not be punished regardless of what he does.

[–] FlyingSquid@lemmy.world 5 points 2 years ago (2 children)

You never know. Look what happened to Abramoff and Epstein.

[–] Mago@lemmy.world 2 points 2 years ago

Some optimism is nice on a Friday 👍

[–] justastranger@sh.itjust.works 12 points 2 years ago

C'mon, he was subpoenaed. I wish that shit meant something to the plutocrats.

[–] stolid_agnostic@lemmy.ml 11 points 2 years ago

lol it’s going to come out that all that money came from Russia, Iran, and Saudi Arabia

[–] PhlubbaDubba@lemm.ee 10 points 2 years ago

This one's especially funny to me, Musk already HATES the SEC for probing his previous stock trading shenanigans

[–] SleepingTower@lemmy.world 9 points 2 years ago (1 children)

Why does every post of this clown have a picture of him cosplaying as Dr Evil? If newsrooms can attach unflattering photos of Zuckerburg, they should be able to use unflattering pictures of Musk.

[–] Wodge@lemmy.world 9 points 2 years ago (2 children)

That….is a lot to unpack.

[–] Zahille7@lemmy.world 1 points 2 years ago

Real "I can be your devil or your angle" energy