BREAKING: Elon Musk sued for $258 billion over alleged Dogecoin pyramid scheme

Elon Musk, SpaceX and Tesla Inc. were sued for $258 billion over claims they are part of a racketeering scheme to back the cryptocurrency Dogecoin.

Keith Johnson, “an American citizen who was defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme,” sued Musk and his companies, claiming they constitute an illegal racketeering enterprise to inflate Dogecoin’s price.

“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” Johnson said in his complaint, filed Thursday in federal court in Manhattan.

Johnson is seeking to represent a class of people who have lost money trading in Dogecoin since April 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.

Musk didn’t immediately respond to emails seeking comment on the suit. Representatives of SpaceX and Tesla, and Tesla’s legal counsel, also didn’t respond right away.

Dogecoin was trading on Thursday at about 5 cents and is down about 67% this year. It spiked to as high as 74 cents last year before giving up those gains.

The case is Johnson v. Musk, 22-cv-05037, US District Court, Southern District of New York (Manhattan).

Didnt Musk just release Tesla Coin?

Bogus lawsuit.

More money more problems. Keep enjoying life, Mollusk.

"Hurrr, I put all my money in a worthless ponzi scheme and it's all YOUR fault, surely my good shiester friend...err, lawyer will save me and make me rich."


Oh, lordy. Those idjits never fail to make me laugh.

if you bought dogecoin after it went up 100000% you are a fucking idiot and deserve what happened to you

Idk, Elon acted like he was supporting Doge till the end at one point. Saying Tesla would accept it was a big move.

Then all the sudden he stopped and started pumping other coins such as shib.

I'm not sure if shit like that is illegal, but it should be.

how democrat of you to prevent free speech

“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” the plaintiff, Keith Johnson, noted in the complaint. “Since Defendant Musk and his corporations SpaceX and Tesla, Inc began purchasing, developing, promoting, supporting and operating Dogecoin in 2019, Plaintiff and the class have lost approximately $86 billion in this Crypto Pyramid Scheme.”



lolz....keep HODL'ing those lambo's are on the way