Now officially the richest man in the world, Elon Musk must expect that he will be hit from many sides by people trying to get a piece of that American dream pie. One “American citizen who claimed he was defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme” sued Elon Musk not to mention his businesses for $258 billion.
Keith Johnson’s suit was filed on the basis of “illegal racketeering.” His case indicated that Musk inflated his Dogecoin’s value, according to The Bloomberg Wealth:
‘Elon Musk, SpaceX and Tesla are being sued for $258 billion over claims they are part of a racketeering scheme to back Dogecoin’
Johnson filed the complaint in a Manhattan New York federal court Thursday. It read in part:
‘Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all.’
It seems that appointed himself to represent the little guy who lost money in Dogecoin, beginning in spring, 2019:
‘He is asking for $86 billion in damages, plus triple damages of $172 billion, as well as an order blocking Musk and the companies from promoting Dogecoin, and declaring that Dogecoin trading constitutes gambling under US and New York law.’
Dogecoin dropped to five cents, down 67 percent since the beginning of 2022. At one time in 2021, it was trading at 74 cents, and Elon Musk indicated that he wanted to create a Bitcoin rival.
The Decrypt wrote that Dallas Mavericks owner Mark Cuban liked Dogecoin:
‘Other big names are also all-in on DOGE—billionaire businessman Mark Cuban, who owns the Dallas Mavericks, has said that he believes Dogecoin has value as a payment system.’
Johnson v. Musk, 22-cv-05037, US District Court, Southern District of New York (SDNY) in Manhattan.
Featured image is a screenshot via YouTube.
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