607
submitted 20 hours ago by [email protected] to c/[email protected]

The Securities and Exchange Commission intends to seek sanctions against Elon Musk over his failure to appear for testimony in an investigation related to his takeover of Twitter, now called X, the regulator said in a court filing Friday.

Earlier this year, a federal judge ordered Musk to testify as part of the SEC’s probe of the billionaire’s $44 billion acquisition. The agency is examining whether Musk followed the law when disclosing his purchases of Twitter stock and whether his statements in relation to the deal were misleading.

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[-] [email protected] 18 points 5 hours ago

He’s above the law until they can hold him accountable for his actions. They either need to admit that he is- or prove he isn’t.

[-] [email protected] 4 points 1 hour ago

Can the US revoke his citizenship and deport his ass back to SA?

[-] [email protected] 3 points 1 hour ago

Can they? Yes. Will they? No.

[-] [email protected] 6 points 5 hours ago

The SEC? Do they still have boats?

[-] [email protected] 59 points 12 hours ago

Take a page out of the EU handbook, fine him 5% of global Twitter revenue per infraction.

[-] [email protected] 8 points 4 hours ago

fine him 5% of the sale value when he bought it.

[-] [email protected] 18 points 9 hours ago
[-] [email protected] 20 points 6 hours ago

Revenue, not profit.

[-] [email protected] 67 points 12 hours ago

Just like Trump- even when it looks like there will be consequences, there will be no consequences.

[-] [email protected] 86 points 16 hours ago

How hard would it be for the judge to "have him fetched"?

Would be epic and the tantrum would be hilarious

[-] [email protected] 11 points 5 hours ago* (last edited 5 hours ago)

GOP house would most certainly intervene since Twitter is a platform for the MAGA party

[-] [email protected] 185 points 20 hours ago

Lock him up for contempt of court until he testifies.

[-] [email protected] 125 points 20 hours ago

I would literally be shocked if they enforced a rule that everyone else has to follow on a celebrity billionaire

[-] [email protected] 41 points 19 hours ago

I'm not sure what the law is on this. But from a practical standpoint, I would like to see adverse inferences drawn against him because he failed to show. That would form the basis for massive fines, so assess those fines, and take away a ton of his money.

It doesn't seem like there's any need to put him behind bars when this is a question about doing shady things with money that can be handled by taking away a lot of his cash.

[-] [email protected] 35 points 19 hours ago

It is not unusual in alimony or child support cases for someone who refuses to pay what they owe to be locked up for contempt. It is a way of compelling obedience to the law in civil cases.

[-] [email protected] -1 points 4 hours ago

And if he refuses to pay the fines, then yes, lock him up, but that's not what happened here

[-] [email protected] 32 points 17 hours ago

Take away his money AND put him in jail.

[-] [email protected] -4 points 15 hours ago* (last edited 15 hours ago)

So what should be the fine? 100 billion? Even with that less he would still be one of the richest persons

[-] [email protected] 7 points 6 hours ago

Uh awktually he doesn't have that much cash in hand that is net worth blah lah lah

[-] [email protected] 5 points 6 hours ago

Yeah, people don't really understand that the ultra rich don't have a 10+ figure checking account. Most of that money isn't very liquid.

[-] [email protected] 4 points 5 hours ago

You mean he doesn't have a Scrooge McDuck style room filled with dollar bills that he goes swimming in?

[-] [email protected] 12 points 16 hours ago

And afterward too, for being a malignant, malevolent social parasite

[-] [email protected] 37 points 16 hours ago
[-] [email protected] 16 points 10 hours ago* (last edited 10 hours ago)

That's the FAA. The SEC could halt Trading in Tesla, spaceX and other musk companies while they investigate irregularities.

[-] [email protected] 13 points 9 hours ago* (last edited 9 hours ago)

Tesla is the only Musk company that trades publicly

[-] [email protected] 62 points 20 hours ago

Space Karen should see jail time for contempt of court.

[-] [email protected] 46 points 19 hours ago

Can we revoke his government contracts now?

[-] [email protected] 7 points 10 hours ago

What about his citizenship?

[-] [email protected] 9 points 17 hours ago

No.

But if trump wins, muskrat can draw up new contracts himself.

this post was submitted on 21 Sep 2024
607 points (98.7% liked)

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