SEC preparing more charges against Elon Musk, probing Neuralink

The Securities and Exchange Commission is preparing more charges against Elon Musk and is also probing Neuralink, according to a letter from Musk’s lawyer which the Tesla Inc (NASDAQ:TSLA ) Chair posted on X. 

The letter- which was addressed to SEC Chair Gary Gensler by Musk’s lawyer Alex Spiro, states that Musk had a 48 hour deadline to accept a monetary payout settlement, or face “charges on numerous counts.” 

The letter did not specify the nature of these charges, but stated that the SEC’s demands came after a multi-year investigation. 

The letter also showed that the SEC had reopened an investigation into Musk’s neurotechnology venture Neuralink. Reports in 2023 had shown that some lawmakers had asked the SEC to investigate Neuralink over Musk’s claims of the safety of its brain chip. 

Musk has a long history with the SEC, having paid the agency $20 million in 2018 over his Tweets claiming that Tesla will go private, and that he had secured the necessary funding. 

Musk is facing an investigation over his Twitter takeover, while lawmakers were also looking into Tesla’s self-driving claims. 

The letter characterized Musk’s history with the agency as “six years of harassment” by the agency. The letter also demanded to know who had directed the SEC's actions against Musk.

Source: Investing.com