Mon. Mar 25th, 2019

Fiery Elon Musk has “no respect” for US regulator

Former Tesla Chairman, Elon Musk

Tech entrepreneur Elon Musk has said that he has “no respect” for the Securities and Exchanges Commission (SEC) of the United States. Musk said this during an interview with the news channel CBS—the BBC reported.

In September this year, the SEC had decided to sue him for alleged securities fraud which came after Musk’s rather infamous tweet. In this tweet Musk had written that he had secured funding to take Tesla (his electric car manufacturing firm) off the stock markets and turn it into a private company.

The SEC had termed Musk’s claim as “false and misleading”.

Musk clarified that he and Tesla had chosen to pay the $20m (Rs 145 crore) settlement fine as he believed in the justice system. In the same breath Musk added that he did not respect SEC, the regulator. Musk had to step down as Tesla’s chairman as part of the settlement package and was told that his tweets should be monitored.

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