Tesla's Elon Musk settles with SEC, paying US$20m fine and resigning as board chairman

September 30, 2018 5:53 AM

WASHINGTON (WASHINGTON POST) - Tesla chief executive Elon Musk agreed on Saturday (Sept 29) to pay a US$20 million (S$27 million) fine and step down as board chairman as part of a settlement with the Securities and Exchange Commission (SEC) that he misled investors about his plans to take the company private.

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