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$ 258 billion in damages / Elon Musk faces another lawsuit

2022-06-18 08:41:00, Tech CNA
$ 258 billion in damages / Elon Musk faces another lawsuit
Billionaire, Elon Musk

Tesla and SpaceX owner Elon Musk has been sued for $ 258 billion by a Dogecoin investor, who accused him of running a pyramid scheme to support cryptocurrency.

The pyramid scheme is a fraudulent system for making money based on the recruitment of a growing number of "investors". Start-up promoters recruit investors, who in turn recruit more investors, and so on.

In a lawsuit filed in federal court in Manhattan, plaintiff Keith Johnson accused Musk, electric car company Tesla Inc. and space travel company SpaceX of blackmailing Dogecoin advertising and raising its price, only to let the price fall. .

Johnson seeks $ 86 billion in damages, representing the decline in Dogecion's market value since May 2021, and seeks to triple it./ CNA.al

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