A Dogecoin investor sued Elon Musk in a class-action lawsuit for $258 billion on June 17 for allegedly running a pyramid scheme to support the cryptocurrency.
The plaintiff, Keith Johnson, accused the billionaire CEO of Tesla Inc and SpaceX in a complaint filed in U.S. District Court in Manhattan of using “his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement.”
The lawsuit filed on behalf of Johnson by an attorney at Even Johnson Law accuses Musk of committing racketeering fraud for over-promoting Dogecoin and then allowing the cryptocurrency to tumble after pumping up its price….