Elon Musk Sued for $258 Billion for Running

Tesla CEO Elon Musk has been sued for $258 billion for allegedly running a pyramid scheme to support Dogecoin

The lawsuit was filed by a Dogecoin investor who also sued Musk’s companies Tesla and SpaceX. Musk is also the CEO of SpaceX

Johnson accused Musk, electric car company Tesla Inc and space tourism company SpaceX of racketeering for touting Dogecoin and driving up its price

Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading

Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit

Johnson likened dogecoin to a pyramid scheme since the virtual currency has no intrinsic value nor is it a product.

Additionally it is not backed by a tangible asset and the number of “coins” is unlimited.