It appears that the Apartheid Era Emerald Heir Pedo Guy™ and the Securities and Exchange Commission have cut a corrupt deal, with a $1.5 million dollar slap on the wrist for Elon Musk's Twitter stock fraud.
Elon Musk’s trust has agreed to pay $1.5mn to settle a case in which the US Securities and Exchange Commission accused him of failing to properly disclose stakes in Twitter, a fraction of the sum it claimed the billionaire gained by breaching regulations.
The SEC and the Elon Musk Revocable Trust asked a federal judge in a joint filing on Monday to accept the deal, after which the agency said it would file a dismissal of Musk that would “entirely” resolve the case. The regulator initially alleged the billionaire wrongfully profited by at least $150mn.
Musk’s proposed settlement comes after the SEC showed leniency towards several figures and businesses with ties to the Trump administration, notably dismissing cases against crypto exchanges Coinbase and Kraken, both of which have donated to the president.
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The deal filed on Monday was made possible by an unusual procedural step earlier in the day, when the SEC amended its complaint to add the trust, through which Musk bought his Twitter shares in 2022, as a defendant.
As part of the proposed deal, the trust does not need to acknowledge any wrongdoing, and Musk faces no personal penalties.
We really need to start frog-marching these rat-bastards out of their offices in handcuffs.
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