×
App Icon
The Standard e-Paper
Read Offline Anywhere
★★★★ - on Play Store
Download Now

Elon Musk sued for $258 billion over alleged Dogecoin pyramid scheme

Vocalize Pre-Player Loader

Audio By Vocalize

Elon Musk reacts at a post-launch news conference after the SpaceX Falcon 9 rocket. [Reuters]

Elon Musk was sued for $258 billion on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.

In a complaint filed in federal court in Manhattan, plaintiff Keith Johnson accused Musk, electric car company Tesla Inc and space tourism company SpaceX of racketeering for touting Dogecoin and driving up its price, only to then let the price tumble.

Premium Article

Get Full Access for Ksh299/Week.

Fact-first reporting that puts you at the heart of the newsroom. Subscribe for full access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
By AFP 4 hrs ago
Premier League
Man City must respect Arsenal in title showdown, says Guardiola
By AFP 4 hrs ago
Premier League
Rosenior admits Chelsea in 'difficult place'
Football
Mathare United edge New Mathare FC in slum derby
Football
FIFA Series: Harambee Starlets Sh1.5 million richer after 2-0 win over India, Australia final next