It is already well established that any positive activity around Elon Musk and Tesla often boosts Dogecoin’s price almost instantly. In a latest development, a U.S. citizen is charging Musk with alleged involvement in Dogecoin related fraud in a Musk Dogecoin lawsuit.
According to a Bloomberg report, Musk, along with SpaceX and Tesla were sued for $258 billion over Doge-related claims. The case filing suggests allegations that they are part of a “racketeering scheme to back Dogecoin.
‘Dogecoin Is Deceptive’
The report mentions Keith Johnson as an American citizen who is behind the lawsuit. Johnson was allegedly “defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme.” He claimed that they constitute an illegal racketeering enterprise to inflate Dogecoin’s price.
In his complaint filed on Thursday in federal court in Manhattan, he said,
“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all.”
