The US Securities and Exchange Commission has reopened an investigation into Elon Musk’s Neuralink, preparing to bring more charges against him.
Elon Musk’s lawyer accuses the SEC of years of harassment.
In the latest development in Elon Musk’s ongoing feud with the Securities and Exchange Commission (SEC), the commission has reopened an investigation into Musk’s brain-chip startup Neuralink. In a fiery backlash, the team of billionaires addressed outgoing chair Gary Gensler, saying the commission had issued a 48-hour ultimatum demanding the settlement accept the financial settlement or face charges on several counts.
in the letter, Elon MuskAlex Spiro, a lawyer for the agency, also marked “more than six years of harassment” by the commission and its staff, as they questioned how the agency was carrying out such actions and by whom. , blasting the SEC chairman with “Oh Gary, how could you do this to me?” he wrote.
While the letter is short on details such as the allegations against Musk and how his companies were affected, it details the billionaire’s complaints. Noting that commission staff had issued a statement demanding that Elon Musk agree to accept a monetary payment or face charges, the letter further indicated that the demand was directed by his superiors. is the result and charges will be laid until Musk accepts. “This demand is made after several years of investigation and more than six years of harassment by the commission and its staff,” it added.
Spiro also claimed that commission staff subpoenaed him to testify, and threatened to send a process server if he failed to cooperate, leading to the reopening of the Neuralink investigation.
“This series of events demonstrates that the Commission is not motivated to seek the truth, but is instead engaged in a disinformation campaign against Mr. Musk and the individuals and companies associated with him,” the letter finally demanded. Whether the actions are directed by the chairman himself or by the White House.
Elon Musk’s Conflicts with the SEC
It’s worth noting that Musk’s relationship with the SEC has been contentious over the years. Earlier in 2018, the billionaire CEO was sued by the commission over a tweet about taking Tesla private. The most recent investigation centers around Musk’s $44 billion purchase of X, formerly known as Twitter.
Neuralink’s investigation has also sparked reactions from the likes of Vivek Ramaswamy and Mike Lee. While Lee claimed the SEC “can’t be trusted,” Musk described it as a “weaponized institution.”