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Axios
Axios
Business

In the Elon Musk trial, fraud isn't just about false statements

Elon Musk Sam Bankman-Fried Alameda FTX Tesla Inc.

In a San Francisco federal courtroom earlier this week, a jury was told its job isn’t to determine whether Tesla CEO Elon Musk’s 2018 tweets about taking the company private were false.

  • Rather, the group must decide on his state of mind at the time.

Why it matters: The legal concept of scienter, or the required state of mind to be held liable for certain actions, is central to white-collar crimes like fraud.

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