The Hill reports:
A cryptocurrency investor has sued Elon Musk for $258 billion, saying the Tesla co-founder ran a pyramid scheme via Dogecoin.
The lawsuit filed by plaintiff Keith Johnson in New York, has accused Musk and his companies, Tesla and Space X, of running a “pyramid scheme” to inflate the price of the cryptocurrency.
The lawsuit added that, “Defendants falsely and deceptively claim that dogecoin is a legitimate investment when it has no value at all.”
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“Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement,” a lawsuit by an investor said.
— Reuters Legal (@ReutersLegal) June 16, 2022