Elon Says He’s a Victim of ‘Political Dirty Work’

Man in suit, hands clasped, black background.

(AmericanProsperity.com) – In a political climate where personal freedoms are under attack, the Securities and Exchange Commission (SEC) launched a savage attack against Elon Musk.

In response to this blatant weaponization, Musk blasted the federal agency as “just another weaponized institution doing political dirty work.”

The SEC is targeting the tech mogul for allegedly failing to properly disclose his Twitter stake, sparking a fierce debate about government overreach and regulatory fairness.

The agency’s lawsuit against Musk accuses him of misleading shareholders about his Twitter stock purchases in 2022.

According to the SEC, Musk failed to disclose his ownership of more than 5% of Twitter’s stock promptly.

This violation allegedly resulted in underpayment to investors by at least $150 million.

The commission seeks the “disgorgement of unjust enrichment” and civil penalties from Musk for failing to uphold essential disclosure requirements that maintain market integrity.

Musk has openly criticized the SEC, calling it a “totally broken organization” and dismissing the lawsuit as a complete “sham.”

Meanwhile, Musk’s attorney argues that the SEC’s action is an admission of their inability to bring a legitimate case against Musk.

Lawyer Alex Shapiro stated that the “action is an admission by the SEC that…they cannot bring an actual case – because Mr. Musk has done nothing wrong and everyone sees this sham for what it is.”

He added:

“The SEC’s multi-year campaign of harassment against Mr. Musk culminated in the filing of a single-count ticky tak complaint against Mr. Musk under Section 13(d) for an alleged administrative failure to file a single form — an offense that, even if proven, carries a nominal penalty.”

The legal drama follows Musk’s acquisition saga of Twitter. At first, he attempted to back out of the deal in July 2022 but went on with the purchase in October after a lawsuit from Twitter.

Musk has taken advantage of his acquisition to promote free speech and reduce censorship, especially regarding conservative viewpoints.

Since then, he has renamed the platform to X and released the “Twitter Files,” which revealed attempts to suppress particular news stories, like the “Hunter Biden laptop” one.

This legal conflict is not Musk’s first encounter with the SEC. He faced previous allegations from the commission, including a 2018 complaint regarding his conduct with Tesla investors and a 2023 investigation into his purchase of X.

The timing of the current lawsuit is noteworthy, as it was filed shortly before SEC Chairman Gary Gensler’s planned resignation.

Musk’s role in this SEC controversy has drawn scrutiny, especially given his political connections as a known Trump supporter and Republican donor.

President-elect Donald Trump recently selected Musk to lead the Department of Government Efficiency.

As the legal proceedings unfold, it remains to be seen how this contention between the tech mogul and the SEC will play out.

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