- June 20, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Tesla and still-Twitter CEO Elon Musk is currently facing insider trading charges related to Dogecoin (DOGE). And as a new court document shows, there are discrepancies in Musk’s legal team. The billionaire has lost one of his lead in-house lawyers. This news comes after the New York Post reported on a leaked letter from Musk’s legal team.
The court document reveals that Adam Gabor Mehes, a Manhattan attorney, has filed a motion to resign as counsel in the $258 billion dollar lawsuit over the alleged Dogecoin manipulation. Mehes has been part of Musk’s legal team for nearly a year and has actively participated in a variety of litigation involving the Tesla CEO.
The reasons for Mehes’ withdrawal are not clear. The lawyer could have made the request for personal reasons, on the other hand Musk could have fired Mehes. What is striking is that Mehes’ request comes only shortly after a letter from Musk’s legal team was leaked to the New York Post.
In the letter, Elon Musk denied owning the crypto wallets reportedly used for the rigged DOGE trades. Remarkably, a replacement has also already been found. Another court document reveals that Musk’s legal team has brought in a new lawyer: Allison Huebert.
The lawyer most recently worked as a trial lawyer at the law firm Quinn Emanuel. Also interesting: Musk said in a tweet last year that his company was building a “hardcore legal department” that would report directly to him. A few months later, Musk hired Mehes.
Elon Musk Denies Dogecoin Insider Trading
As previously reported, Musk has to defend himself in court against investors who are said to have lost several million US dollars. Last week, an amended complaint was filed with the relevant court, alleging that Musk used Twitter posts and paid influencers, his appearance on the TV show “Saturday Night Live” and similar appearances to artificially boost the price of DOGE.
The plaintiff investors also accuse Elon Musk of selling $124 million worth of Dogecoin in April this year after replacing the Twitter logo with the Dogecoin logo, which led to a 30% increase in the Dogecoin price.
His legal team has disputed the allegations in writing, stating that Musk was not the owner of those Dogecoin wallets that held and sold particularly large amounts of DOGE.
Observers, however, should not really be surprised by the lawsuit. After all, it has been possible for some time to observe how Elon Musk has artificially boosted the Dogecoin price (DOGE) seemingly effortlessly through Twitter posts and similar public statements.
At press time, the Dogecoin price stood at $0.0619.
