Categories: Tech

Elon Musk accused of fraud by a Dogecoin investor

A Dogecoin investor is suing Elon Musk, Tesla and SpaceX requiresndo a maxi compensation of 258 billion dollarsthe. Musk was accused of handling one pyramid scheme to support the growth of cryptocurrency. Here are the details on the case.

Musk sued for Dogecoin “case”

Keith Johnson, a Dogecoin investor, is suing Elon Musk, over Tesla and SpaceX, in federal court in Manhattan, demanding a billion dollar compensation. The accusation is that he advertised Dogecoin, with the aim of increasing its price, and then letting the cryptocurrency depreciate quickly. Musk also hosted an episode of Saturday Night Live in which he pretended to be a fake finance expert to promote Dogecoin in a segment.

The amount requested by Johnson as compensation is three times the maximum market value joined by Dogecoin in May of 2021. Note that the investor wants asked the court to declare the Dogecoin trade as a gamble. In the meantime, compared to last year, Dogecoin has a much lower value, settling at 5.8 cents. This is a 92% drop from last year’s figures.

It will be necessary to wait for the next few weeks to understand what the evolution of the Dogecoin “case” will be. For the investor who has sued Musk, Tesla and SpaceX it will not be easy to arrive at a positive conclusion of the judicial process. More details will come, in any case, shortly.

Published by
Walker Ronnie

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