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Elon Musk sued $258 billion for Dogecoin pyramid scheme

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He may be a billionaire but Musk has been slapped with a hefty lawsuit that will leave even his wallet dry

Elon Musk is sued for $258 billion dollars after a Dogecoin investor accused him of running a pyramid scheme to support the cryptocurrency.

In a complaint filed in federal court in Manhattan, the investor accused Musk, Tesla and SpaceX of being dishonest and touting Dogecoin by driving up its price, only to then let the price tumble.

The complaint says “Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading,”

It continues on to say Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement.”

The complaint also aggregates comments from Warren Buffett, Bill Gates and others questioning the value of cryptocurrency.

Tesla, SpaceX and a lawyer for Musk did not immediately respond to requests for comment.

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Six strategies to build a six-figure property portfolio

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Achieve your dream retirement with these key property investment approaches

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

In this episode, Andrew is joined by Moxin Reza, Director of Invest0r Partner Group.

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Money

Experts reveal how to spot investment-grade properties

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Crucial tips for choosing the right property to secure long-term financial success

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

In this episode, Andrew is joined by Moxin Reza, Director of Investor Partner Group.

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Money

Tricks of the trade: how to navigate market volatility with confidence

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Strategies to manage risk and seize opportunities in uncertain times

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

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