A man sues Elon Musk for $258 Billion alleging that Musk was part of a Dogecoin pump-and-dump.
In June 2016, Elon Musk was sued for $258 Billion(!!!!) by an investor in Dogecoin who accused Musk of a pump-and-dump scheme.
The plaintiff alleges that Musk committed racketeering via Twitter to get investors excited about Dogecoin and driving up its price. In the federal complaint, the plaintiff states that "Defendant [was] aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading."
While Musk may have promoted the coin a little too much on his Twitter page, this lawsuit is a little more than egregious. Can't hate the hustle though!