The SEC has moved to hold Elon Musk in contempt in their favorite court – the Southern District of New York. This has been a battle against the SEC whereby just making any comment as a CEO of a public company brings the SEC in against you unless you are one of the bankers. Even after the 5 major banks plead criminally guilty, anyone else would lose their license. Not one banker who really destroyed the world economy in 2007 with their leveraged mortgage-backed securities went to jail or even lost a job. They got bonuses! The SEC said nothing. The SEC makes an exception for the New York Bankers all the time because they want high paying jobs in return for looking the other way. They call this the revolving door and it is truly criminal corruption activity with the blessing of the swamp. But Musk, they want to bar him from ever being a director of a public company for a comment.
In fact, the former Goldman Sachs board member who was in charge of Global Compliance is now the #2 guy at the SEC despite the fact that any other company involved in any type of fraud charges usually results in the compliance office being criminally charged. The head of Goldman had to step down because of the criminal investigation into defrauding billions of dollars involving the Malaysian country. New York Bankers are exempt from everything and are the untouchables today because the SEC protects them and the head of the SEC use to be their lawyer. Trump really hired the swamp – he failed to drain it.
So it looks like the SEC will be relying on the authority and precedent of my case of contempt also in the Southern District of New York. They could throw him in prison for life under contempt pretending it is civil and thus you are not entitled to a trial. Had it not been for the Supreme Court, the SEC would never have released me. They want to bar Musk from being a director of Tesla when he is the guy with the vision that made the company. That is why Apple needed to recall Steve Jobs for he had the vision not the lawyers and accountants on the board.
The SEC said: “We allege that Musk’s statements were false and misleading.” The SEC official told added: “The SEC seeks a finding that Musk committed securities fraud.” The relief they want in retaliation for him saying that the SEC protects the bankers and short-sellers if to bar Musk from serving as director or executive of any publicly-traded company for life.
Welcome to American injustice where there is NEVER any such thing as equal protection. There is unquestionable favoritism in how and who is every charged by the SEC. It appears more that they deliberately trying to manipulate companies allowing others to sweep in and take charge. The allegation that his comments on the stock were some sort of fraud is interesting. There is no evidence in the chart that supports the SEC’s case. In fact, removing Elon Musk may be far more devastating to Tesla than anything he ever had to say. But when the SEC creates losses, nobody can sue them.