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.
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.
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.
Take away his money AND put him in jail.
And if he refuses to pay the fines, then yes, lock him up, but that’s not what happened here
So what should be the fine? 100 billion? Even with that less he would still be one of the richest persons
Uh awktually he doesn’t have that much cash in hand that is net worth blah lah lah
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.
You mean he doesn’t have a Scrooge McDuck style room filled with dollar bills that he goes swimming in?