Elon Musk and Tesla is Being Investigated by the SEC and DOJ

Elon Musk has been a target of the left for years because of the partnership with the federal government and SpaceX during former President Donald Trump’s administration. It couldn’t have been more apparent than when Tesla wasn’t invited to an Electric Vehicle Summitt that was hosted by President Joe Biden’s administration.

Recently, Elon Musk has been very interested in getting involved in Twitter and bought a 9.2% stake in Twitter stock. That move has caused a lot of controversy in the tech community because many people on Twitter believe that freedom of speech, as written in the Constitution, doesn’t exist. While Twitter acts as a private company and there has been many arguing that Twitter can ban and censor people, there have also been many claims that Twitter can’t be bought by Elon Musk. Both claims, that are spoken together, cannot both be true. Either Twitter is private or they aren’t.

The U.S. Securities and Exchange Commission and the Department of Justice are both going after Elon Musk after he offered to buy Twitter for $43 billion. The investigation is about comments made by Elon Musk and Tesla about taking Tesla private.

A Spokesperson for Tesla said, “Last month, following Elon’s announcement that he was considering taking the company private, Tesla received a voluntary request for documents from the DOJ and has been cooperative in responding to it. We have no received a subpoena, a request for testimony, or any other formal process. We respect the DOJ’s desire to get information about this and believe that the matter should be quickly resolved as they review the information they have received.”

Regardless of the outcome, it’s unlikely that Elon Musk would be criminally charged, but he could be fined a considerable amount.

Experts also claim that Elon Musk violated the law by purchasing more than 5% of Twitter without publicly reporting on it. The delay in reporting has allegedly profited him $156 million before the stock price grew by approximately 40%.