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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[–] Fredselfish 74 points 1 year 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 34 points 1 year 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.

[–] [email protected] 4 points 1 year ago

i.e., excessive wealth deferment