Gensler’s Weaponized SEC Threatens & Tries to Extort Musk Again

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The SEC is suing Elon Musk for failing to disclose his purchase of more than 5% of Twitter before the legal deadline. They claim it allowed him to keep purchasing at a discounted price. However, everyone knew at the time that he overpaid. It was overpriced and had slews of fake or duplicate posters. Mr. Musk paid $44 billion for a platform that’s valued at $30 billion.

Gensler made a settlement offer along with a threatening letter to charge him with multiple charges within 48 hours.

This lawsuit comes during Gary Gensler’s final week as chairman of the SEC before he steps down on January 20. It’s a parting shot from a partisan who wouldn’t leave Musk alone but ignored others who toed the line.

An Example of What They Did to Musk

Elon Musk: The SEC forced me to pay a fine, although I was found not guilty.

He was found not guilty by a San Francisco jury, but he had to pay a fine anyway or Tesla would have lost their lines of credit with banks. The company would have gone bankrupt immediately. He paid $20 million, not because he did anything wrong, but because the weaponized SEC is corrupt and extorted the money.

Lex Friedman Podcast, November 9, 2023:

The Weaponization of the SEC


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