The court filed a lawsuit Mask accused of fraud, which he spent in their companies to hide financial problems.
In 2016, Tesla has acquired a manufacturer of solar panels SolarCity, announcing the deal at $ 2.6 billion as a way to create “the world’s only vertically integrated company on sustainable energy”. The company promised that internal supply chain will allow to increase technological developments of clean energy for all and to reduce costs for businesses and shareholders.
But SolarCity, whose Chairman was Tesla CEO Elon Musk, at that time had large debts — in fact, the company went bankrupt. One of the investors sold the suit, claiming that the project was bankrupt, and the merger allowed the Mask to hide debts.
SolarCity continued to function only because of the money SpaceX and Tesla, said in a lawsuit. The company has no own funds for the operation, so Elon musk blamed for financial fraud.