The Securities and Exchange Commission (SEC) sent a “settlement agreement” to X owner Elon Musk to resolve the federal investigation into the purchase of then-Twitter, now X, in 2022, according to a letter from his lawyer that he shared on his social network.
However, Musk will refuse to sign that agreement, as one of his lawyers, Alex Spiro, implied in a letter to the president of the SEC, Gary Gresler, in which he says that “they will not give in to intimidation.”
This offer from the SEC included a fine, the amount of which is unknown, which had to be paid within the next 48 hours, or otherwise face “numerous charges” in relation to “certain purchases, sales and disclosures of the shares.” from Twitter.”
“Harassed by the SEC”
In the letter, Musk’s lawyer points out that the request occurs in the context of the investigation that has been open for several years and in relation to “the more than six years of harassment of Mr. Musk by the SEC and its staff.” .
The lawyer adds that this is a campaign against the owner of .
Read: US delays the date for Musk to respond to the Twitter acquisition investigation
In addition, Spiro indicated that, as part of this “harassment,” an investigation into Neuralink, the billionaire’s health technology company, has been reopened this week for alleged stock fraud in relation to the security of a brain implant.
He also wrote that he himself had been personally summoned by SEC staff to testify, but that he refused to comply with the demand.
Elon Musk and the SEC, a tense relationship
Musk, who on several occasions has been skeptical of the regulator’s work, accompanied the letter he shared on X with the comment addressed to the president of the SEC: “Oh, Gary, how could you do this to me?”
The important federal financial watchdog has been investigating Musk for at least two years for possible stock fraud after the purchase of the social network.
This alleged fraud consists of the late disclosure of the purchase of a considerable amount of Twitter shares in 2022, which could have allowed him to accumulate a large stake in the company.
Read: Another milestone for Musk: first person whose net worth exceeds $400 billion
In 2018, the SEC already charged Musk with civil securities fraud after he said on Twitter that he was considering taking Tesla private at a price of $420 per share and that he had “funding secured” to do so, according to CNBC.
No IPO deal ever materialized, but Musk agreed to settle the case, in which both he and Tesla had to pay $20 million in fines and the billionaire stepped down as chairman of that company’s board.
With information from EFE
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