Elon Musk Investigated for Insider Trading
Elon Musk has been under media scrutiny, and he is again making headlines after recently being probed by the SEC for insider trading. The investigation began last year after Musk’s brother, Kimbal, sold Tesla shares for $108 million the day before Musk asked his Twitter followers if he should sell 10% of his Tesla shares.
This news comes as insider trading has been brought to the public’s attention in Congress – Senator Ben Sasse proposed the Ethics Reform Act, a bill to prevent Congresspeople from trading on the market.
Christopher Warren, Managing Partner at Warren Law Group, states, “Insider Trading is hot on the Staff’s agenda as further scrutiny is being placed on Congressional members freely trading on insider information. This subpoena comes on the heels of news that approximately fifty-seven members of Congress have generated incredible fortunes based on confidential insider information, often at the expense of the general public they govern.”
If you are being investigated by a government organization, such as the DOJ, SEC, CFTC, or by FINRA for insider trading, it is crucial you seek seasoned white-collar defense or securities regulatory counsel. Contact the attorneys at Warren Law Group at (866) WLGROUP or firstname.lastname@example.org