Elon Musk Hit With $258 Billion Lawsuit Over Alleged Dogecoin Pyramid Scheme

Elon Musk Hit With $258 Billion Lawsuit Over Alleged Dogecoin Pyramid Scheme
Elon Musk, founder and chief engineer of SpaceX, speaks at the 2020 Satellite Conference and Exhibition in Washington on March 9, 2020. Win McNamee/Getty Images
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A Dogecoin investor sued Elon Musk in a class-action lawsuit for $258 billion on June 17 for allegedly running a pyramid scheme to support the cryptocurrency.

The plaintiff, Keith Johnson, accused the billionaire CEO of Tesla Inc and SpaceX in a complaint filed in U.S. District Court in Manhattan of using “his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement.”

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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