China News Service, Feb. 25 (Xinhua) -- The U.S. Securities and Exchange Commission (SEC) is investigating whether Tesla CEO Elon Musk and his brother Kimbal sold shares that violated trading rules, according to people familiar with the matter.
Data map: Musk.
Photo by China News Agency Sheng Jiapeng
A day after Kimbal reportedly sold $108 million in Tesla stock in 2021, Musk asked fans on social platforms if he should sell his 10% stake in Tesla.
Under a previous agreement between Musk and the SEC, he has the right to make public statements about Tesla's finances and other issues, subject to review by the company's legal counsel.
Musk said Kimbal was unaware of his solicitation from fans.
But Musk's lawyers knew about it.
The SEC issued a subpoena on November 6, 2021, seeking some financial data.
A few days ago, Musk accused the SEC investigation of harassing him.