Federal justice and the United States Securities and Exchange Commission are investigating the possible use of funds from the automobile manufacturer Tesla to finance a personal project of its leader, Elon Musk.
According to the Wall Street Journal (WSJ), in a statement on Wednesday citing sources linked to the process, the federal court in Manhattan, New York, requested “information on the personal benefits paid to Musk, on the value spent by Tesla for this project (…) and on its future use”.
This “Project 42”, a name the newspaper says is used internally, refers to “the construction of a spacious glass structure in the Austin, Texas area” where Tesla’s headquarters are located.
The construction is also the subject of a civil investigation by the United States Securities and Exchange Commission (SEC), added the WSJ, specifying that the two investigations are in the “preliminary phase and cannot give rise to formal accusations of irregularities”.
The newspaper reported in July that Tesla’s board of directors was investigating internally whether company resources had been misused on 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 commissioned for several million dollars,” the WSJ said.
Source: TSF
