Dogecoin: Elon Musk is accused of a Ponzi scheme, the situation is getting worse

Last June, we told you about the complaint filed by Keith Johnson in a New York court against Elon Musk, Tesla and SpaceX. He believes that a pyramid scam is being played around dogecoin and is demanding at least $258 billion. Considering himself injured, this American citizen even wanted his complaint to be filed in the form of a “class action” to allow other injured investors to join him.

A case that does not fit well with Elon Musk

And it is the lawsuit that is gaining momentum, according to information published by the Reuters news agency. Thus, seven new plaintiffs were added to the case, as well as six new defendants, including Elon Musk’s The Boring Company.

Specifically, Tesla, SpaceX and The Boring Company are accused in the lawsuit of deliberately raising the price of the Dogecoin cryptocurrency by more than 36,000% in the two years before it collapsed.

In particular, we remember that a complaint filed last June referred to Elon Musk’s passage in a satirical program where he claimed that dogecoin “is a scam.” This was followed by a drop in its value.

The Defendants thus raised “tens of billions of dollars” from other investors in Dogecoin, knowing from the outset that this electronic money has no value and is based “only on marketing.”

The future will show us whether American justice will be sensitive to the arguments put forward by the plaintiffs. Be that as it may, this case falls rather badly on Elon Musk, who currently has to manage the takeover of Twitter, which he is trying to cancel. We are witnessing a real battle between the billionaire and the current leadership of the platform. The entrepreneur believes that Twitter did not play fair with the massive presence of bots on the social network.

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