Tesla facing US criminal probe due to Musk’s statements

Anca Alexe 19/09/2018 | 08:37

Tesla is under investigation by the US Justice Department over public statements made by CEO Elon Musk, according to sources cited by Bloomberg. The criminal probe is running alongside a civil inquiry by securities regulators.

Prosecutors opened a fraud investigation after Musk said last month he was thinking of taking Tesla private and that he had secured funding for the deal. His tweet initially boosted the company’s shares.

“Last month, following Elon’s announcement that he was considering taking the company private, Tesla received a voluntary request for documents from the DOJ and has been cooperative in responding to it,” the company said in a statement released Tuesday following Bloomberg’s report of the investigation. “We have not received a subpoena, a request for testimony, or any other formal process. We respect the DOJ’s desire to get information about this and believe that the matter should be quickly resolved as they review the information they have received.”

The criminal probe is in its early stages, and it may be months before prosecutors decide whether to bring charges or drop the case altogether.

BR Magazine | Latest Issue

Download PDF or read online: May 2022 Issue | Business Review Magazine

The May 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Orange’s New Mission: To Create a One-Stop Shop Experience”. Read it
Anca Alexe | 24/05/2022 | 10:10

You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

I agree with the Privacy policy of business-review.eu
I agree with the storage and handling of my data by business-review.eu

Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue