Photo: Theo Wargo / Getty Images
By: Real America News Updated 27 Feb 2022, 14: 47 pm EST
Elon Musk and his younger brother Kimbal Musk are facing an investigation by the United States Securities and Exchange Commission (SEC), according to information released by The Wall Street Journal ( WSJ).
One of the reasons why the SEC began to investigate the founder and leader of Tesla and his brother, has to do with the fact that apparently these violated rules against the use of privileged information .
The WSJ reported that the investigations began last year, after Kimbal Musk sold 88,550 Tesla shares valued at $108 million Dollars.
The sale took place a day before Elon Musk published a survey of social network users on his Twitter account to determine if he should sell the 10% of your Tesla stake, based solely on your opinion.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 04% of my Tesla stock.
Do you support this?
— Elon Musk (@elonmusk) November 6, 2021
The Securities and Exchange Commission is investigating whether the CEO of Tesla informed his brother of his plans to publish the post on the social network, as well as inform him about the sale of his shares.
In case it was that way, the Musk brothers would have violated the current law stipulated by the SEC, which prohibits businessmen from carrying out any negotiation based on data that is not available to everyone.
In recent years, the agency has been investigating the Musk’s posts on Twitter. In the face of inquiries from the SEC, Elon Musk told the regulator to carry out a “campaign of harassment” against him that It exposes him unfairly.
Given the tycoon’s position, the institution denied that its investigations had anything to do with an act of harassment. So far, a ruling on the investigation has not been determined, as well as the possible sanctions that the Musk brothers would face .
You may also like: Elon Musk activates Starlink satellites for Ukraine and prevents Russia from disrupting the Internet