Musk targeted in investigation over use of Tesla funds for personal project

The federal courts and the US Securities and Exchange Commission are investigating the possible use of Tesla's funds to finance a personal project by its leader, Elon Musk.

Notícias ao Minuto writes, quoting the Wall Street Journal (WSJ), that the federal court in Manhattan, New York, has requested "information on the personal benefits paid to Musk, on the amount spent by Tesla for this project (...) and on its future use".

This "Project 42", the name used internally according to the newspaper, concerns "the construction of a spacious glass structure in the Austin, Texas area", where Tesla's headquarters are located.

The news source also says that the construction is also the subject of a civil investigation by the US Securities and Exchange Commission (SEC), added the WSJ, specifying that the two investigations were at a "preliminary stage and may not result in formal charges of wrongdoing".

The newspaper reported in July that Tesla's board of directors was investigating internally whether the company's resources had been misused in the project and whether the billionaire was involved.

"Tesla's lawyers and board members reviewed the project after employees raised concerns about how the company planned to use special glass walls it had ordered for several million dollars," said the WSJ, which does not know where this project is and whether these walls have been delivered.

 

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