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Tesla Is Facing US Criminal Probe Over Elon Musk Statements (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: Tesla is under investigation by the Justice Department over public statements made by the company and Chief Executive Officer Elon Musk. The criminal probe is running alongside a previously reported civil inquiry by securities regulators. Federal prosecutors opened a fraud investigation after Musk tweeted last month that he was contemplating taking Tesla private and had "funding secured" for the deal. The tweet initially sent the company's shares higher. Tesla confirmed it has been contacted by the Justice Department. The investigation by the U.S. attorney's office in the Northern District of California follows a subpoena issued by the Securities and Exchange Commission seeking information from the electric-car maker about Musk's plans to go private, which he has since abandoned. Tesla said in a statement following Bloomberg's report: "Last month, following Elon's announcement that he was considering taking the company private, Tesla received a voluntary request for documents from the DOJ and has been cooperative in responding to it. We have not received a subpoena, a request for testimony, or any other formal process. We respect the DOJ's desire to get information about this and believe that the matter should be quickly resolved as they review the information they have received."
It's a simple rule. Many people follow it and avoid being investigated by the DOJ.
Mimetics Inc. Twitter
He made his statements after being provoked by trolls, and then it turned out he didn't have anything real prepared.
People have got to stop saying dumb shit on twitter with their real identity.
Actually if he were smoking marijuana he'd probably be able to de-stress and get needed rest, get better control of his emotions. It would be a strong net positive in his case compared to his stress-meth lashing out on Twitter.
the promise of clean(er) vehicle emissions does not need him fucking it up. there has been enough hate on battery tech without this douche making it worse.
why doesn't the board just fire him or something... just focus on the business.
I'm not one to say I told you so, but everybody made fun of me a few weeks ago when I said that Elon was going to face some serious consequences for his phony tweet about taking Tesla public.
https://youtu.be/lTXoA-QTbJw
You are welcome on my lawn.
otherwise they would have... oh wait
Tesla at this point is exceeding production goals, and still has strong demand - stronger still now that Google is infecting many automobiles.
Remember at the time there was a huge block purchase by an investor in Saudi Arabia, there are probably a number of investors very interested in taking Tesla private given the future they have not just with cars, but with many things solar and battery related...
"There is more worth loving than we have strength to love." - Brian Jay Stanley
A rich person has to accept repercussions for his behavior? This isn't Trump's America!
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
Does "Elon" rhyme with "melon"? I've never heard his name pronounced, as I read the news rather than watching it.
World war III will start with a tweet.
(yes I know the sandwich thing is a myth)
This is just a takedown by Big Oil, the Saudis, and the "shorts" Rei
No, this is the SEC doing it's job, opening a criminal probe into Musk. Tesla will face a class action suit for this little tweet too.
The problem here is Musk has a *responsibility* to be both truthful AND he must make announcements that have a material bearing on the stock price though proper channels, which is NOT Twitter. So if he was just goofing around on Twitter, says something stupid that is untrue but has anything to do with the stock or could possibly be inside information, it was criminal misleading investors with false information. IF the information was true, but improperly released though Twitter, it was again criminal as it wasn't properly released though standard PR statements. Either way, it was criminal.
The SEC will likely just levy a fine on Musk and or Tesla. Nobody is going to jail or trial. However, investors WILL sue as a class and get both actual and punitive damages, which will be bigger than the SEC fines.
Even if found guilty, he'll never see the inside of a jail cell.
One law for the rich, and one law for everyone else.
Sadly they were brutally raped to death by large black inmates in Federal prison just like Trump, the end.
Having actually been to Africa, Musk is more of an "African American" than almost every American black person.
If they deny him African-American status because he is white, that would be discrimination based on skin color which should be illegal.
Dude....weeed. Weeeeeed, duuuuuude.
I am curious if a movie were to be made about Musk, how would it be portrayed? i.e. the movie about Howard Hughes "The Aviator" and would it then be called "The Rocketman?" I find it interesting some of the parallels (though not many) however you got to admit Tesla has affected the car market and SpaceX the space market.
mfwright@batnet.com
Actually if he were smoking marijuana he'd probably be able to de-stress and get needed rest, get better control of his emotions. It would be a strong net positive in his case compared to his stress-meth lashing out on Twitter.
I find Tai Chi to be a great way to eliminate stress (better than anything else I've tried -- including weed, for its "paranoia" aspect can actually introduce mental stress though the body is very relaxed). I practice on a daily basis and continue to be amazed when it removes stress I did not know I was holding onto. I have learned through personal experience that we have become so used to holding tension/stress in our bodies and minds that we tend to think of it as normal. It's so easy not to realize how much there is until after it's released. It's profound for me to think about how much this colors my intrepretation of events and my reactions to things, like a subconscious undercurrent, without my previously being aware of it. It's interesting to be familiar with something and still experience it as though it were new each time.
Then there are the health benefits of vastly reducing stress, considering it is proven to reduce quality of life and cause a wide range of diseases. The nice thing about Tai Chi is that you can measure your level of relaxation because you can't do it correctly if you aren't relaxed (what is called "sung" or "soong" in the art).
A nice side benefit is that my arthritic symptoms have almost completely disappeared and my range of motion has improved. I also have difficulty remembering the last time I came down with a cold/flu and that's not for lack of exposure. My employer's policy tends to encourage people to come into work sick and spread their germs to everyone else which is all too common.
So I found something that works for me. If weed or something else works for another, I hope they enjoy it fully. That's the point, to know yourself and find what works out best for you.
It has the added benefit of being completely legal, not that a misdemeanor possession charge would be a problem for someone with half the wealth of Musk. It would definitely be a big problem for me and likely the same for anyone reading this. Weed is among the very most benign of drugs, far less toxic to the body than alcohol and the only sensible thing would be to legalize it and reasonably tax it as some US states are doing. It's definitely not a crime to possess it (as this does not entail using force or fraud to deprive another person of their rights). There is no victim in that scenario and thus no crime that should interest the state. Until this madness ends, I seek other effective ways to deal with stress. It's my good luck that I found one that actually works better.
-> Oil Funds Short Tesla' Stock.
-> Musk says, Specifically, an "Oil Tycoon out of Montana" shorted him illegally.
-> Musk says he has "funding secured".
-> Shorts All Tank.
-> Everyone gets their panties in a bunch, says he's lieing.
-> Media has to continue the lie they were paid to lie about.
-> Media proceeds to pin the tail in the demon.
-> Musk reveals the "Secured funding" was the public investment fund of Saudi Arabia.
-> Musk says this with an offer on the table, and an exact number in funding.
-> Shorts go down more.
-> Existing Investors reel in horror at what he's about to do.
-> Existing investors know if the signs that deal, the Saudi's will engage in all kinds of economic Arbitrage against them.
-> Existing Investors appologize, then offer more money and time.
-> Oil Tycoons out a lot of money. Demand Criminal Probe from SEC.
-> Saudi's are Salty, Foolishly Invest in a Tesla competitor for $1 Billion.
So lets take score.
--> Musk has funding. Check.
--> Oil Tycoons got Played. Check.
--> Saudi's got Played. Check.
--> SEC is at this point a mouthpiece for a lieing media and the oil tycoons that paid them. Check.
Nicely Played Musk.
c6gunner shot himself down w/ his FAKEname on a post impersonating me https://linux.slashdot.org/com... & w/ c6gunner altering /. user's words there.
All since I challenged c6gunner to show better work than mine he did & you can't c6gunner "ne'er-do-well"!
Right after you tried to mock me 1st https://linux.slashdot.org/com... for no good reason & I didn't bug you @ all!
YOU DEMAND PROOF OF OTHERS "I've yet to see you provide any evidence of that." by c6gunner on Monday March 15, 2010 @10:02PM (#31490942) ?
I DEMANDED IT OF YOU & YOU FAILED!
* You're FAKENAME trash you childish dishonest punk + YOU are a DO-NOTHING "ne'er-do-well" CHATTERING dolt w/ ZERO to show for yourself!
APK
P.S.=> You say hosts = shit here https://slashdot.org/comments.... ?
50++ /.ers & security pros + RESULTS SAY DIFFERENT:
Proof's here from /.ers https://slashdot.org/comments.... https://slashdot.org/comments.... https://slashdot.org/comments.... https://slashdot.org/comments.... https://slashdot.org/comments.... https://slashdot.org/comments.... from SECURITY PROS https://slashdot.org/comments.... & REAL RESULTS w/ hosts working vs. threats https://slashdot.org/comments.... so EAT YOUR WORDS... apk
31 Legal Medical Marijuana States +DC -Laws, Fees, and Possession Limits https://medicalmarijuana.procon.org/view.resource.php?resourceID=000881
How is Musk able to keep a clearance and do business with the gov't after blatantly and publicly violating federal law? US is a lawless country for anyone with a billion stashed. I see no reason average people should obey any federal law, given what we've seen over the last 15 years.
Contrary to people thinking that this is somehow being orchestrated by Big Oil or existing automakers trying to slow down the switch to EVs. Tesla is not driving the adoption of EVs, it is the beneficiary. CARB is the one driving the adoption of EVs (California Air Resources Board - the government agency which sets California's air quality standards). CARB instituted a ZEV mandate (Zero Emissions Vehicle) starting a few years back (2014 I think?). Each year, a certain percentage of each automakers' unit sales has to be ZEVs. The formula is a bit complex (there's also a requirement for hybrid sales), but for 2018 the target is about 2.5% ZEVs. It ramps up each year - by 2025 the target will be about 8%. Toyota has a hydrogen fuel cell vehicle which qualifies as ZEV, but thus far every other ZEV has been an EV.
If an automaker fails to meet the requisite percentage, it must buy ZEV credits from an automaker who exceeded their quota. If they fail to buy enough credits, they are banned from selling cars in California. And since about a dozen other states automatically adopt CARB's guidelines, this would result in the automaker from being banned from selling to about 1/3 of the U.S. by population. No automaker wants to be cut off from a third of the U.S. market, so they're all busy rolling out EVs to comply with CARB. If they haven't sold enough EVs toward the end of the year, they will run sales and incentives to get enough EVs pushed off their lots (which is why California gets the best EV sales - only EVs sold in California count towards the mandate). And failing that, they will buy ZEV credits, usually from Tesla. So the push to sell EVs has nothing to do with Tesla. Tesla could disappear and we'd see the exact same number of EV sold each year - because the percentage is set by CARB, not the market.
Way back before the ZEV mandate kicked in, Musk realized there would be a market for ZEV credits due to automakers slow to adapt or who happened to fall short. So he set up a company guaranteed to always have excess ZEV credits. Such a company could even sell each vehicle at a small loss, and still turn a profit due to selling the ZEV credits. So Tesla is the beneficiary of CARB mandating EV sales, not the driving force behind growing EV sales. I think Musk got caught a bit off guard by how difficult it was to scale up production, and how quickly the other automakers were to roll out their own competent EVs.
On the flip side, the other automakers want Tesla to survive. Tesla provides insurance, a safety net - a guaranteed source of ZEV credits should an automaker somehow fail to meet its ZEV percentage. The exotic car makers who don't yet offer an EV rely entirely on Tesla to sell them ZEV credits And because the percentage is mandated by CARB, Big Oil is indifferent to who is selling the EVs. The same number of EVs will be sold each year, whether they're Teslas or other brands, meaning the survival of Tesla doesn't have any effect on oil consumption. So the conspiracy theory that automakers and oil companies want to destroy Tesla is just that - a baseless conspiracy theory.
Incidentally, this isn't the first time CARB tried a ZEV mandate. The last time was in the late 1990s. The ZEV mandate was set to begin in 2000, which is what drove the intense R&D into hybrids and GM to develop the EV1. By the time the mandate was set to kick in, GM had the only viable ZEV. They'd sunk nearly a billion dollars into developing the EV1, but stood to make back many times that from licensing the technology or selling ZEV credits. Then CARB pulled the rug out from under them. The other automakers petitioned CARB saying the technology wasn't yet ready to produce a decent ZEV, and the best they could for now was a hybrid. CARB relented and rescinded the ZEV mandate, basically throwing away the carrot after they'd used it to lead GM into sinking nearly a billion dollars into the EV1. GM was livid, and recalled and destroyed every EV1 and locked away the research so that California would in no way benefit from their bait and switch.
The 80's called, they're missing the punk rock dude from the back of the gig.
As much as I hate the guy, this of all things is bullshit. There is ZERO evidence the stock wasn't manipulated by some computer reading his tweet. Twitter is NOT a place where companies make formal disclosures any more then a coffee shop is anyone who thinks that is retarded.
I realize more of you are too young to understand but the electronic car industry wouldn't be anywhere near where it is now without Tesla. The auto industry had no plans to cooperate with anything but the status quo for fear or retaliation by the Oil and Gas companies.
Taking Tesla private is good for eastern "royal" families to move money around, that is why some lost their shit over it. Has nothing to do with Musk. You can't find a gas station NOT owned by one of them around here.
Given his networth it wouldn't at all surprise me if more then one group has a team following him, waiting to pounce.
IANAL, but I can see Musk's lawyer arguing that for Tesla and Musk that Twitter is more universal and instantaneous than Bloomburg or PR Newswire for making market-moving announcements. Of course, that would leave him with the problem of whether or not the announcement so made was true...
Would love to see her perspective on this.
What? No he's apart of the South African elite. Those are two different things. The rest of Africa looks at them like intruders.
Dude you really need to chill.
Take a break from the internet, maybe go outside and fly a kite someplace where you can hear birds singing.
Breathe. in.... out..... slowly....
he should have taken it private earlier.
"Nine times out of ten, starting a fire is not the best way to solve the problem." - my wife
What? No he's apart of the South African elite. Those are two different things. The rest of Africa looks at them like intruders.
He's an American who came from Africa. Full-stop. The political situation of a particular African nation does not change this.
Sorry if your particular emotional hang-up distorts your ability to deal with facts. That must be a debilitating condition and likely this is only one of many manifestations.
AND in the last two weeks both Audi and Mercedes have announced luxury Full Electric models
Slower than a Tesla. No battery technology company behind it. No existing nationwide supercharger infrastructure.
What they have done is validated Tesla's market while being only a vague threat.
Meanwhile Tesla has ramped up to producing 8000 cars a week... Tesla has figured out scale, do you seriously think the large car makers can crack full electric luxury autos as rapidly? They are missing some really huge components of the story.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
He was prescient enough to see a Moore's law for batteries, with a 7 year period for power density and price. His prediction is coming exactly. He was charismatic enough to persuade enough VCs to fund a company that can make a no-compromise EV, not some compliance vehicle. But the company is stable now. The production hell has been debugged out. Now they are going through the delivery hell, and are talking about parts and repairs etc like a regular car company. At this point Elon is hurting more than helping Tesla.
Tesla Model 3 is the fifth best selling car by volume and the number one car by revenue in August.
sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
Tesla Model 3 is the fifth best selling car by volume and the number one car by revenue in August.
Sure, but it didnâ(TM)t sell any in August 2015, and so far August 2020 sales are non existent. Lame!
The huge oil exporter? Yep, you're too woke for us mere mortals.
Tesla has more than a few failings, but when it comes to them Bloomberg seems lean disturbingly far to one side of their coverage. There is a sea of articles pointing out every possible flaw, and maybe one semi-positive article I was able to find in a quick browse. I feel like I'm looking at a Fox News coverage of a Democratic candidate.
Bloomberg Tesla Articles
He was born in South Africa. Whatever else he is, he is not American.
The closest non-African he could be is European. So either way you can not blame us for this mad man.
No it's anything but stable. Please be careful, you're repeating a carefully crafted message broadcast by the pro-Tesla media.
There are thousands of model 3s wasting away in dirt fields in California and around the country. The demand for RWD has officially ended and AWD will be the same in a month. The factory has already been mortgaged out via the ABL and AP is well over $3B. Cash is close to a billion with a burn rate of $1B/mo. Their production rate is well under 5K per month which Moodys is using as a benchmark for the bond ratings (currently rated junk).
Based on the horrific balance sheet there's an excellent chance this one goes straight Chapter 7, bypassing 11 altogether. In a matter of weeks/months, not years.
If white people in s. Africa are "intruders", are non white people in Europe "intruders"? Or are they somehow European ? But whites can't be African ?
Your logic is fucked.
Even easier and more important a rule to live by. If you have no idea what actually happened, making an assertion about what you THINK happened, especially if it is derogatory or belittling, merely paints what YOU are, not what your target is.
Yes, even if you hate their guts for being left wing and rich, which makes you break down mentally because you're taught that the rich are automatically worthy, yet also told that the left are automatically unworthy.
What you have is what the big industries who don't like a disruption, it ruins their economic forecasts, say went on. There's no law saying he can't tweet "We have secured funding and are thinking of going private, it shuts the short sellers up". What YOU have is what Fox, who is owned by Saudi Arabia (look up who owns it now) who got punked when Musk didn't go private with the big Saudi investor, say went on.
Your ass-pull is bollocks. Nope, it makes money on each car sold. They turn that capital into extra loans that they use to build more capacity since they are at a fraction of demand, so can invest to make more.
There are thousands of model 3s wasting away in dirt fields in California and around the country.
Pics or it didn't happen.
It is unfortunate Musk gets the company into trouble.
But has he? What is currently underway is a probe. Not a prosecution, not a judgement, but a probe. It's like you getting yourself in trouble because I decide to sue you for the comment you just made. It could happen, but let's face it you won't be in trouble as a result.
The fact that they're going for Tesla is proof it's a witch hunt. Tweeting "we have secured funding" doesn't say it has secured enough funding, just entered a binding agreement that secures funding. If manipulating stock market were illegal as you claim you'd be facing the SEC yourself.
The above is just more lies from Alexander Peter Kowalski
Like how he claims the Chinese copied him but can't produce any evidence.
How about when he states that hosts does port filtering but again can't backup his statement which was shown to be false.
There is also his list of "experts" who support him but it turns out they don't say what he is claiming.
This also ignores his out of context quotes he uses to lie by omission.
The problem with APK is that his entire reputation is built upon the lie he told years ago that hosts is an effective security solution. It has been exposed numerous times as being a lie and when exposed APK fails to argue logically and instead will try to deflect criticism, change the subject, move the goal posts, return to a previously disproved statement, demand you prove you did better than his file concatenator, or just call people names. Expect that he will used these tactics to try to deflect from these criticisms because he is a loser and can't let the lie die. He will continue to lie by stating that he won or "dusted" you while failing to refute anything you said, will never provide real evidence, and generally try to dodge the issue.
The truth is APK is one of the most detested individuals here for good reason. When ever his poor behavior, awful logic, over statements, and horrendous writing are called out he has a fit and has done so for years across the internet. He is a spammer, and is an abusive insecure little man who is washed up and never amounted to anything. Until he produces actual verifiable facts supporting his case nothing he says should be taken seriously.
are non white people in Europe "intruders"
No, they are offspring of slaves and servants, brought into Europe for profit by the very same white intruders.
My favorite news program gaffe was when a female anchor from the U.S.A. was speaking with their British journalist and described some black Brits as "African American". The British journalist gave her a very quizzical look, paused a long time, then continued on.
You mean like these? https://imgur.com/a/IO6AAp5
Or these? https://twitter.com/CarDudeTopanga/status/1041891371018334208
Or these? https://twitter.com/Paul91701736/status/1033159128456163328
Fail. A used car in a used car lot is not "thousands of model 3s wasting away in dirt fields in California".
And denial is not a river in Egypt.
I don't think it would matter if Elon Musk cured cancer tomorrow. There's a group of people out there who truly despise what the guy is accomplishing, because they don't want to see things change from cars running on gasoline and working the way they've always worked.
I would agree that it's not one big conspiracy, so much as several groups with anti-Tesla agendas for different reasons.
You've got, on one hand, the stereotypical blue-collar auto mechanic who always works on his own vehicles and makes a living repairing others at small garages or as a mobile mechanic or what-not. Tesla may be seen as a threat to his living. He doesn't want a bunch of vehicles running around that he doesn't understand and can't repair.
On the other end of the spectrum, you've got the investors who kept sinking money into bets against Tesla's success. They have the ability to seed Internet blogs and to influence bigger publications to print negative articles, in attempts to scare people away from holding Tesla stock.
Somewhere between that, you've got some people with a political agenda against Musk succeeding. They may be ultra-conservatives who see what he does as part of the "Green agenda" they're fighting against. Or they may take issue with the fact the Federal government extended loans to him. Maybe both. I've talked to a few of these people and I think half the time? It's just rooted in jealousy. They tend to be small business owners themselves who are struggling, and say things like, "If people gave ME the kind of loans they threw at Elon Musk, I'd have an amazing business too ... probably better than his!"
All I can say is this: Space-X alone should be a company you rally behind if you don't like big government. They're taking a whole industry that was the sole domain of Federal government for decades, because it was believed it was "too big an undertaking for private industry to accomplish" and taking it private.
"A nice side benefit is that my arthritic symptoms have almost completely disappeared and my range of motion has improved."
That has nothing to do with the art of Tai Chi and more with the fact that it's simply 'Use it or lose it.' If you sit and remain inactive, you develop pains when you do use muscles you haven't used, and as many of them are not used while sedentary and your meager walking around doesn't trigger enough stress to cause muscle pain/development, you don't notice until they degrade to a bad point.
The simple answer to many problems most people have is "Get off your ass and move around."
captcha: suffers - absolutely prescient.
Unless they, you know, just crossed the sea using one of the many ferries that run from North Africa to Italy.
If an African crossed the Mediterranean last week into Europe for the first time in their life, are they all of a sudden the offspring of slaves and servants dragged to Europe?
Don't be a god damn idiot.
LOL... And they did that because? Yep, because the very same Europeans started a bunch of wars over there for the past 150 years, the last one being the "Arab spring", which destroyed their livelihoods and started not a decade ago. Libya, Syria, most of North Africa.
When will racist idiots fucked in the head like yourself learn what responsibility is?
When you hang by the neck, that's when.
You mean Elon hasn't invented a way to teleport the car from the factory in Fremont directly to the buyer's driveway anywhere in the world?
That looks a whole lot like logistics lots where cars are taken off trains, and loaded onto trucks for delivery.
OH NO HERE'S A LOT FULL OF CARS AT THE PORT OF PORTLAND! HYUNDAI MUST BE GOING OUT OF BUSINESS BECAUSE THERE ARE HUNDREDS OF CARS SITTING THERE!
Seriously, if this is the best you've got, just give up.
Slashdot still doesnâ(TM)t support Unicode after it was added to the HTML standard in 1997.
Elon hasn't invented anything at all, but dust-covered cars frying for months in a desert in California aren't quite the same as a bunch of Hundai cars passing through a harbour.
There's no indication of those Model 3's being moved about for months.
So, yeah. Denial is definitely not a river in Egypt.
Cody Wilson — accused of having sex with a young prostitute who registered on SugarDaddySomething.com — is just as much a "pedophile", as Julian Assange — accused of deliberately ripping a condom in an otherwise consensual encounter — is a rapist.
In addition to the actual accusations being far from from what's normally associated with the terms used ("assault", "rape"), both men have another thing in common: their infamous crimes have surfaced shortly after they greatly inconvenienced the US government.
Had you really been a Liberal, you wouldn't have parroted these accusations... But you aren't... Maybe, it is the tenure track — rather than a gun — that "makes jack-offs into bigger jack-offs", uhm?
In Soviet Washington the swamp drains you.