News JVTech's'horrible and idiotic tweets' send Elon Musk to court for fraud, but the billionaire will not allow it to go.
Published on 01/04/2023 at 16:55
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Elon Musk has been the subject of a fraud complaint for a few months long. He appears to be wary of the allegations against him.
Elon Musk has been accused of fraud.
Elon Musk tweets yet another statement of affection for the Shiba Inu meme in the Dogecoina crypto joke.
The relationship between the dog-headed cryptocurrency and the billionaire isn't new, according to Twitter's CEO, who has issued many tweets in reference to Dogecoin. For example,:
Only here, these different regular bitcoin moves are generally synonyms for speculation. In effect, with each of his tweets, the price takes off in record time before gradually decreasing.
Elon Musk is often accused of manipulating the price of cryptocurrency in order to benefit from it, thus, since May 2021, he has been the subject of a fraud prosecution.
Elon Musk is accused in a lawsuit filed against him by the plaintiffs of directing and feeding a pyramid scheme around Dogecoin, a ponzi in short. Specifically, his trusted status with his fan community would have prompted some investors to purchase Dogecoin.
Nevertheless, these unsuspecting Doge owners would have lost tens of thousands or even millions of euros as a result of the demise of the crypto market. Like the majority of the market, the Doge has lost more than 90% of its value, and some investors have seen a portion of their savings disappear into cryptocurrency.
For this reason, Elon Musk and his subsidiaries (Tesla, SpaceX, etc.) have filed a lawsuit for 258 million.
Elon Musk wants to put an end to the Dogecoin scam.
Elon Musk appears to consider himself a victim in this case, although seven new complaints have been filed.
Elon Musk petitioned an American judge to withdraw his case for the "258 billion dollars racket", according to Reuters. This court action by the investors constitutes a "fanciful work of fiction."
The supporters of the billionaire believe Crypto Doge's "harmless and often silly tweets" are not a valid reason to sue their client in a fraud action.
The lawyers say they are confident for the remainder of this trial. However, the outcome of this case is not decided in advance. In recent times, several influencers have paid costly fines for tweets encouraging the purchase of cryptocurrency, such as Kim Kardashian.
