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Elon Musk accused of a Ponzi scheme, the situation escalates

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Elon Musk accused of a Ponzi scheme, the situation escalates

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Last June, we told you about the complaint filed by Keith Johnson in a New York court against Elon Musk, Tesla, and SpaceX. He believes that a pyramid fraud has been played around the dogecoin and claims no less than 258 billion dollars. Considering himself aggrieved, this American citizen even wanted his complaint to be filed in the form of a “class action” to allow other aggrieved investors to join him.

A case that falls badly for Elon Musk

And precisely, the trial is gaining momentum according to information published by the Reuters news agency. Thus, seven new plaintiffs have been added to this case, while six new defendants are also joining the case, including Elon Musk’s company, The Boring Company.

In detail, the lawsuit notably accuses Tesla, SpaceX, and The Boring Company of intentionally driving up the price of the Dogecoin cryptocurrency by more than 36,000% in two years before causing it to collapse.

We remember in particular that in the complaint filed last June, mention was made of a passage by Elon Musk in a satirical program where he claimed that dogecoin “ is a scam “. A fall in its value then followed.

The defendants would thus have collected tens of billions of dollars at the expense of other investors in Dogecoin, knowing from the outset that this electronic money had no value and rested ” only on marketing “.

The future will tell us if American justice will be sensitive to the arguments put forward by the plaintiffs. Be that as it may, this affair falls rather badly for Elon Musk who must currently manage the takeover of Twitter which he is trying to have canceled. We are witnessing a real battle between the billionaire and the current management of the platform. The entrepreneur believes that Twitter has not played fair with the massive presence of bots on the social network.

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