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Elon Musk's Secret House Project Under Investigation by Federal Prosecutors

Federal prosecutors and the SEC are investigating the usage of Tesla's company funds for a secret project reported as a house for CEO Elon Musk.

Elon Musk
Elon Musk

Secret Musk House Project Probed

Federal prosecutors are delving into Tesla's use of company funds for a secret project, internally referred to as a house for CEO Elon Musk, as the Wall Street Journal reported, citing sources familiar with the situation. However, neither Musk nor a spokesman for the U.S. Attorney's office in Manhattan, conducting the probe, immediately responded to requests for comments. The newspaper did not disclose any dollar figures but mentioned that the house is located near Austin, Texas.

Previous Investigation by Tesla Board

The Wall Street Journal had previously reported in July that Tesla board members investigated to determine whether company resources were misused for this project.

SEC Opens Civil Probe

The U.S. Securities and Exchange Commission (SEC) has also initiated a civil probe into the matter, according to the Journal. However, an SEC spokesperson clarified that the agency does not comment on the existence or nonexistence of potential investigations.

Early Stages of Investigation

The investigations are still in their early stages and may not necessarily result in charges, as stated by the Wall Street Journal.