Outgoing Securities and Exchange Commission Chairman Gary Gensler apparently has issued a monetary settlement demand on billionaire Elon Musk, threatening charges if he does not comply.
Musk posted a letter Thursday stating the charges that would be brought by Chairman Gary Gensler’s SEC date back to the businessman’s 2022 purchase of social media platform Twitter, now known as X.
Musk commented, “Oh Gary, how could you do this to me?”
In the letter, Musk’s attorney Alex Spiro wrote to Gensler, “Yesterday, the Commission Staff issued a settlement demand that required Mr. Musk agree within 48 hours to either accept a monetary payment or face charges on numerous counts.”
“They indicated that this demand was the result of a directive from their superiors and that charges would be brought imminently unless Mr. Musk acquiesced,” Spiro continued.
“This demand follows a multi-year investigation and more than six years of harassment of Mr. Musk by the Commission and its staff,” the letter read.
Spiro also revealed that the SEC has reopened an investigation into Musk’s company Neuralink.
“This series of events makes clear that the Commission is not motivated to seek the truth but instead is engaged in an improperly motivated campaign