Elon Musk has to answer to a US court for allegations of fraud. The background is an illegal lottery in the US election campaign 2024, in which a million profit was promised.
• US court allows a lawsuit against Musk
• Allegation: Illegal million lottery in the 2024 election campaign
• Effects on Musk’s reputation and investigation possible
Background of the lawsuit
A court in the US state of Texas has decided that an action for fraud against Elon Musk can be negotiated. According to a report by Reuters, it is a raffle that Musk is said to have started in connection with the 2024 presidential election. Participants should sign a petition of the “America Pac” organization in order to have the chance of a profit of a million US dollars every day.
The plaintiff Jacqueline McAferty stated that he would also have to send personal contact information in order to be able to participate in the lottery. According to her representation, there was never the chance of winning. According to the plaintiff, Musk not only violated the US law that prohibits the electoral chamber plotteries, but at the same time acted misleadingly.
Potential consequences of the procedure
The head of the Tesla automotive manufacturer failed with his attempt to ward off the lawsuit. According to mirrors, the plaintiffs see the lottery an attempt to gain political influence. This not only has a legal procedure against the TechMilliardär in the room, but also a considerable reputation damage. Musk’s credibility could come under pressure. It is also open whether Musk has to appear personally in court. As Yahoo Finance reports, such a step could also increase public attention.
Meaning for Tesla and investors
Even if the allegations are not directly related to Tesla, Musk’s public role is considered closely linked to the company. A protracted procedure could possibly damage the company’s reputation. This remains an uncertainty factor for investors, even if direct consequences for the Tesla share are currently not foreseeable.
Editor finance.net
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