Tesla CEO Elon Musk has incurred the considerable wrath of the Securities and Exchange Commission.
Reuters reports the SEC has accused Musk of fraud and wants to ban him as a director of a public firm.
Musk allegedly made a series of “false and misleading” tweets about potentially taking Tesla private.
On August 7th, Musk tweeted he might take Tesla private at $420 per share, and that there was “funding secured.”
However, he had never discussed such a transaction with any funding source.