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As Elon Musk’s Twitter Buyout is Expected to Close, A New Report Breaks the Feds Have Him Under ‘Criminal Investigation’

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By Kyle Becker

A new report has surfaced providing details on a ‘criminal investigation’ that the U.S. government has opened against Elon Musk.

“Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves,” according to three sources contacted by Reuters.

“The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla’s driver assistance system Autopilot, which was activated during the accidents,” the report added.

The first reports of this criminal probe arose in September as the billionaire Tech CEO was engaged in a takeover bid for tech giant Twitter.

“Tesla Inc. 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,” Bloomberg reported.

“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, said the people, who were granted anonymity to discuss a confidential criminal probe. The tweet initially sent the company’s shares higher,” the report added.

The Reuters report breaks as Musk’s deal for Twitter is expected to close by Friday. On Wednesday, Elon Musk walked triumphantly into Twitter headquarters on Wednesday.

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The sight of Musk at Twitter headquarters was a relief for many on the social media platform who have watched his takeover efforts with angst. But the report of a criminal investigation into Musk puts a cloud over the tech entrepreneur’s future.

Last week, there were reports that the Biden administration was weighing putting a halt the deal with a “national security review,” based purportedly on the premise that Musk had been serving as a go-between for the Putin regime. The Biden administration has denied it is is conducting such a “national security review.”

Elon Musk reportedly plans to axe 75% of the Twitter staff and may move the Twitter headquarters from San Francisco to a more business-friendly state. Musk had earlier moved Tesla from California to Austin, Texas.

The post As Elon Musk’s Twitter Buyout is Expected to Close, A New Report Breaks the Feds Have Him Under ‘Criminal Investigation’ appeared first on Becker News.

Source: Becker News