Oct 5, 2018

Elon Musk: Tesla boss mocks US regulator days after settlement

Elon Musk has mocked a US financial regulator just days after reaching an agreement with it over fraud charges. Last weekend Mr Musk agreed to step down as Tesla Chairman and pay a $20m fine over tweets that he had funding to take Tesla private. The SEC's allegation of fraud against Mr Musk related to tweets he posted in August in which he said he was considering taking electronic car maker Tesla off the stock market and into private ownership. The Tesla boss dislike of short-sellers is well-known: He once called them "Jerks who want us to die". Under the deal reached between the SEC and Mr Musk last weekend, Mr Musk will remain as Tesla CEO but has to step down as chairman for three years.

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