Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Firm Tasked With Disbursing $40 Million From Musk’s SEC Settlement Hasn’t Filed Required Statements, Judge Says

Courtesy of ZeroHedge View original post here.

As a part of Elon Musk's settlement with the SEC over his questionable Tweets – namely, one enormously questionable one wherein he faked an $80 billion buyout for his company – a $40 million fund had been set up from fines that Musk had to fork over.

The fund was set up to be disbursed to those harmed by Musk's statements, but U.S. District Judge Alison Nathan – who recently has had her hands full with the Ghislaine Maxwell trial – issued an order this week noting that the firm set up to manage the funds wasn't holding up its end of the bargain. 

On Tuesday of this week, Nathan noted that a firm appointed in May to manage the distributions hadn't "filed required accounting statements", according to Bloomberg. Nathan ordered that Rust Consulting submit a status report to the court by January 7. 

The settlement between Musk and the SEC was reached back in September of 2018. Musk's settlement didn't include an admission of wrongdoing, but did result in the SEC setting up a Fair Fund to repay investors.

Since the settlement, Musk has referred to the SEC as the "shortseller enrichment commission" and has invited the agency – in not so many words – to fellate him


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!