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The SEC is preparing new charges against Elon Musk while reopening its probe into Neuralink. Musk’s lawyer claims the agency’s actions, following a multi-year investigation, amount to six years of harassment.
SEC Targets Elon Musk with Neuralink Investigation
An attorney for Elon Musk has informed the Tesla Inc. chair that the SEC is investigating Neuralink and is planning additional charges against Musk, as stated in a letter that the chair of Tesla Inc. put on X.
There was a 48-hour deadline for Musk to accept a monetary compensation resolution or face "charges on numerous counts," according to the letter written by Musk's lawyer Alex Spiro and addressed to SEC Chair Gary Gensler.
The substance of these accusations was not specified in the letter; nevertheless, it was indicated that the requests made by the SEC were the result of an investigation that lasted for a number of years.
Neuralink Under Renewed SEC Scrutiny
The letter also revealed that Musk's neurotechnology business, Neuralink, was once again the subject of an SEC probe. In 2023, it was reported that certain politicians had requested the SEC to look into Neuralink in relation to Musk's assertions regarding the safety of its brain chip.
As a result of his tweets in 2018 asserting that Tesla will go private and that he had obtained the required capital, Musk paid the SEC $20 million, continuing his lengthy history with the agency.
Tesla, Twitter, and Self-Driving Claims Face Investigations
Additionally, lawmakers were investigating into Tesla's boasts regarding its self-driving capabilities, while Musk is currently facing a probe regarding his takeover of Twitter, Investing.com reports.
As the letter put it, Musk has endured "six years of harassment" from the agency. As part of the letter's demands, the SEC was to reveal who had ordered its measures against Musk.
