Elon Musk: U.S. demanding payment over Twitter stock buys [Video]

DETROIT –

Elon Musk says the U.S. Securities and Exchange Commission wants him to pay a penalty or face charges involving what he disclosed — or failed to disclose — about his purchases of Twitter stock before he bought the social media platform in 2022.

In a letter posted by Musk on the platform now called X, his lawyer Alex Spiro tells the outgoing SEC chairman, Gary Gensler, that the commission’s demand for a monetary payment is a “misguided scheme” that won’t intimidate Musk. The letter also alleges that the commission reopened an investigation this week into Neuralink, Musk’s computer-to-human brain interface company.

• The information you need to know, sent directly to you: Download the CTV News App

The SEC has not released the letter. Nor would it comment on it or confirm whether it has issued such a demand to Musk.

“It is the policy of the SEC to conduct investigations …