Money used for Musk’s house?
Prosecutors are investigating Tesla’s secret project
08/31/2023, 01:10 am
The use of company funds from the electric car manufacturer Tesla for a supposedly secret project calls the public prosecutor’s office and the stock exchange supervisory authority into action. In the group, there should be talk of Elon Musk’s house, into which the funds flow. The CEO is also threatened with further trouble with the judiciary.
According to a media report, the US Attorney’s Office is investigating the use of Tesla company funds for a secret project that is internally referred to as the house for CEO Elon Musk. The US Securities and Exchange Commission has also launched a civil investigation, the Wall Street Journal reported, citing people familiar with the matter.
The house is located near Austin, Texas. Prosecutors were investigating whether Musk, the world’s richest man, enjoyed personal benefits, how much Tesla spent on the project and what the funds were used for, the newspaper reported. Austin is the headquarters of the electric car manufacturer.
Deception in range?
In addition, the lower than expected range of the vehicles is the subject of the investigation. Reuters reported in July, citing experts who tested or examined the vehicles, that the vehicles often fell short of the range advertised and the predictions made by the devices in the vehicles themselves.
An SEC spokesman said the agency would not comment on the existence or non-existence of a possible investigation. Neither Musk nor a spokesman for the US Attorney’s Office in Manhattan, which the newspaper says is leading the investigation, initially responded to inquiries from Reuters.