Elon Musk, Tesla, and SpaceX are facing a $258 billion lawsuit by an investor who claims he was “defrauded” by a Dogecoin “pyramid scheme”, masterminded by Musk who manipulated the price of the coin via a series of tweets.
According to the court document details, the investor Keith Johnson claims to have lost approximately $86 billion since Musk and his companies SpaceX and Tesla Inc. began purchasing, promoting, supporting, developing, and operating dogecoin in 2019.
Mr. Johnson who seeks to represent a class of crypto-investors who have lost money trading in dogecoin since April 2019, is asking for $86 billion in damages and triple damages of $172 billion.
And in addition to that, he is also seeking an order to restrain Elon Musk, Tesla, and SpaceX from promoting Dogecoin and also to declare Dogecoin trading as gambling under the US and New York law.
Featured image source: Republic World.
