Bitrabo Editorial
Tesla and Twitter CEO Elon Musk is currently facing insider trading charges related to Dogecoin (DOGE). Recent court documents reveal that there are discrepancies in Musk’s legal team as one of his lead in-house lawyers has resigned. Adam Gabor Mehes, a Manhattan attorney, has filed a motion to withdraw as counsel in the $258 billion lawsuit regarding the alleged Dogecoin manipulation. Mehes has been a part of Musk’s legal team for nearly a year and has been involved in various litigation cases involving the Tesla CEO.
The reasons for Mehes’ withdrawal are not clear. It could be a personal decision from the lawyer or Musk might have fired him. Interestingly, Mehes’ request came shortly after a leaked letter from Musk’s legal team was reported by the New York Post.
In the leaked letter, Elon Musk denied owning the crypto wallets that were allegedly used for manipulated DOGE trades. It’s worth noting that a replacement lawyer, Allison Huebert, has already been found. Huebert previously worked as a trial lawyer at the law firm Quinn Emanuel.
Elon Musk Denies Dogecoin Insider Trading
Musk is facing a lawsuit from investors who claim to have lost millions of dollars. The investors allege that Musk used Twitter posts, paid influencers, and his appearance on the TV show “Saturday Night Live” to artificially inflate the price of DOGE. Furthermore, they accuse Musk of selling $124 million worth of Dogecoin after changing the Twitter logo to the Dogecoin logo, resulting in a 30% increase in price.
Musk’s legal team has disputed these allegations, stating that he does not own the Dogecoin wallets that held and sold large amounts of DOGE.
It is not surprising that Musk is facing this lawsuit, as he has been known to boost the price of Dogecoin through his Twitter posts and public statements.
At the time of writing, the price of Dogecoin stands at $0.0619.
Featured image from Lagatar English, chart from TradingView.com