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Tesla under Justice Department investigation, report says – Roadshow

Elon Musk and his company are once again reportedly in hot water with the feds.

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Shortly after Elon Musk's infamous tweet that he was considering taking Tesla private and that funding was "secured," it was reported that the Securities and Exchange Commission was investigating those claims. Now, a bigger fish has reportedly bitten down on the same hook.

Tesla is currently under investigation by the Justice Department, Bloomberg reports, citing "two people familiar with the matter." A spokesperson for the US attorney's office in San Francisco did not immediately return a request for comment, but the office declined to comment to Bloomberg. Tesla did not immediately return a request for comment, either.

According to Bloomberg's sources, the criminal probe, like the alleged SEC investigation before it, was opened after Musk tweeted that he had secured funding to take his electric-car company private at the price of $420 per share. This criminal probe is reportedly running alongside the SEC's investigation, which is reportedly still ongoing. Neither Tesla nor the SEC confirmed that investigation when the news first broke.

In August, Musk tweeted his intention to take the company private. In a subsequent blog post, Musk claimed that he wanted to take Tesla private to focus on long-term goals instead of short-term earnings reports, but he welcomed all current public shareholders to stay on as private investors. Rumors flew about who exactly was involved in providing the tens of billions of dollars that could be required in such a move, but before anything could be confirmed, Musk switched positions and decided to keep the company public.