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HomeLaw & PoliticsElon Musk faces lawsuit for allegedly involved in Dogecoin fraud scheme

Elon Musk faces lawsuit for allegedly involved in Dogecoin fraud scheme

In a recent development, an American citizen filed a lawsuit against Elon Musk Dogecoin, alleging that Musk was involved in Dogecoin-related fraud. The complaint was filed in Manhattan state court on Thursday, June 17.

Musk, SpaceX, and Tesla have been charged with $258 billion in Doge-related lawsuits, according to a Bloomberg article. According to the lawsuit, they were involved in a “Dogecoin fraud scheme.”

Keith Johnson, a U.S. citizen, is behind this lawsuit, according to the report. The defendants’ Dogecoin Crypto Pyramid Scheme “defrauded Johnson of money.” 

In the appeal, Johnson wanted to represent all people who have lost Dogecoin trading funds since April 2019 in the complaint. He wants $86 billion dollars, as well as $172 billion in three damages, as well as action against Musk.

He wants a court order barring Tesla CEO Elon Musk from advertising the world’s largest memecoin. In the case of Musk Dogecoin, Johnson also demanded Dogecoin trading be recognized as gambling under state and state law.

Musk recently announced that Dogecoin could be used to purchase Tesla items, prompting token prices to rise. Dogecoin may also be used to buy SpaceX products, it was soon revealed.

Elon Musk is the owner of DOGE who often expresses his support for the brand in his tweets. Almost invariably, tweets result in Dogecoin’s best pricing action. Musk’s interest in buying Twitter, a social networking site, increased his interest in buying Dogecoin.

Read more: John Deaton compares Dogecoin Father Elon Musk’s frequent promotional tweet for Doge with Ripple legal battle

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.


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