Tesla CEO Elon Musk is reportedly under SEC investigation over Dogecoin tweets

If he unloaded stock after the tweet, then that would have been a crime. And if you really did a crime, you would be in jail. The problem also for the SEC is Musk has the ability to pay for better lawyers.

The top people at Enron, did go to jail.
 
The SEC can also be very patient, he might get away with a few violations for a while, but they wait for one big violation to catch him and then remind the court of all the previous "violations" he did as a pattern for misconduct. That's how they can fry him, with multiple successive violations, not one.

Elton Musk is on the SEC shit list, and the SEC will hang him eventually with the right string of violations. He doesn't even see what's coming for him, the poor fool :)
 
oraclewizard77 said:
If he unloaded stock after the tweet, then that would have been a crime. And if you really did a crime, you would be in jail. The problem also for the SEC is Musk has the ability to pay for better lawyers.

The top people at Enron, did go to jail.
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and died there, one committed suicide in his car before they could interview him
 
Sprout said:
Crypto’s are not securities and he’s not bound by any fiduciary duty, nor does the SEC have any jurisdiction.

He likes dogs and memes.

The case is much different than the former guy use of tweets.

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https://www.theverge.com/2021/3/5/2...raud-securities-scheme-charges-cryptocurrency

John McAfee charged with securities fraud for ‘pump and dump’ cryptocurrency scheme

John McAfee has been charged with securities fraud over a “pump and dump” cryptocurrency scheme. Federal prosecutors unsealed a case against McAfee and his executive advisor and bodyguard Jimmy Gale Watson Jr., claiming the pair earned nearly $2 million by urging Twitter followers to invest in cryptocurrencies like Reddcoin and Dogecoin, then selling off their own holdings as the price rose.

“McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception,” said US Attorney Audrey Strauss in a statement. “The defendants allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives.”

The pair allegedly ran their scheme between December 2017 to October 2018. McAfee used his verified Twitter account, which currently has around 1 million followers, to recommend a “Coin of the Day” or “Coin of the Week.” The indictment says McAfee claimed to have no stake in these altcoins; in reality, McAfee would allegedly buy large quantities beforehand using bitcoin, then offload them again after his followers had driven up the price.

McAfee and Watson are facing seven charges, each count carrying between five and 20 years in prison. The criminal charges include wire fraud, conspiracy to commit commodities and securities fraud, and conspiracy to commit money laundering.

McAfee — known for founding the eponymous antivirus company — was already arrested last year on separate tax evasion charges. The Securities and Exchange Commission sued him in October for fraudulently promoting initial coin offerings or ICOs. And in 2019, a court ordered him to pay $25 million for allegedly ordering the 2012 killing of his neighbor in Belize. (McAfee has denied involvement and refused to pay the funds.) These charges add yet another layer to his alleged crimes.
 
Here4money said:
https://www.theverge.com/2021/3/5/2...raud-securities-scheme-charges-cryptocurrency

John McAfee charged with securities fraud for ‘pump and dump’ cryptocurrency scheme

John McAfee has been charged with securities fraud over a “pump and dump” cryptocurrency scheme. Federal prosecutors unsealed a case against McAfee and his executive advisor and bodyguard Jimmy Gale Watson Jr., claiming the pair earned nearly $2 million by urging Twitter followers to invest in cryptocurrencies like Reddcoin and Dogecoin, then selling off their own holdings as the price rose.

“McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception,” said US Attorney Audrey Strauss in a statement. “The defendants allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives.”

The pair allegedly ran their scheme between December 2017 to October 2018. McAfee used his verified Twitter account, which currently has around 1 million followers, to recommend a “Coin of the Day” or “Coin of the Week.” The indictment says McAfee claimed to have no stake in these altcoins; in reality, McAfee would allegedly buy large quantities beforehand using bitcoin, then offload them again after his followers had driven up the price.

McAfee and Watson are facing seven charges, each count carrying between five and 20 years in prison. The criminal charges include wire fraud, conspiracy to commit commodities and securities fraud, and conspiracy to commit money laundering.

McAfee — known for founding the eponymous antivirus company — was already arrested last year on separate tax evasion charges. The Securities and Exchange Commission sued him in October for fraudulently promoting initial coin offerings or ICOs. And in 2019, a court ordered him to pay $25 million for allegedly ordering the 2012 killing of his neighbor in Belize. (McAfee has denied involvement and refused to pay the funds.) These charges add yet another layer to his alleged crimes.
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Interesting news. McAfee’s use of tweets are quite distinct from Musk’s use.

McAfee did receive compensation in the form of tokens when promoting various projects.

Curious to see how it shakes out.
 
Sprout said:
Interesting news. McAfee’s use of tweets are quite distinct from Musk’s use.

McAfee did receive compensation in the form of tokens when promoting various projects.

Curious to see how it shakes out.
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I still don't understand this notion you guys seem to have that you need to have financial benefit in order to be guilty of price manipulation.
 
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