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The law in plain sight. Send tips to tips@plainsite.org. PlainSite affiliates may hold long/short investments in companies discussed. Not investment advice.
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Jul 26, 2022 13 tweets 4 min read
Let's talk about $TSLA's reported cash balances. First of all, they are very likely exaggerated relative to the average daily cash balances the company has on hand during the quarter. But even assuming they're real numbers, some thoughts. Here's a not-so-helpful breakdown of $TSLA's cash from its last SEC Form 10-Q. It's not so helpful because it doesn't provide any geographic context for where this cash is actually held. It could be in the U.S., the Netherlands, Korea, China...anywhere.
Jul 25, 2022 4 tweets 1 min read
Congratulations to the Ninth Circuit on making even the most basic form, Form 1, which every appellant has to file, more confusing than its prior version starting with the very first field.

"The District of...the Northern...District..."

Left: 2018 version
Right: 2022 version "The District of...California, Northern?" No one ever says that. Why does this need to be so difficult?
Jul 25, 2022 4 tweets 2 min read
The mob has announced its intention to tell all yous why the used car industry don't matter for us no more, in a week or so. We're in the buyback business, you see. Stock buybacks. $CACC ir.creditacceptance.com/news-releases/… Incredibly, the SEC completely disregarded everything in our $CACC report, even after several Attorneys General filed suit against the company based on it (and managed to pump up the stock even further by agreeing to weak settlements). Care to explain why, @GaryGensler?
Jul 25, 2022 4 tweets 1 min read
In $TSLA's 10-Q, the phrase "converting our holdings of digital assets into fiat currency" is intended to avoid a lawsuit from the SEC for contradicting Elon Musk's material tweets promising that Tesla would not sell its bitcoin holdings. It did. 1. Elon lied. He said Tesla wouldn't do something and then Tesla did it while he was in charge.

2. Elon committed perjury. He claimed under oath that he would never lie to shareholders. See 1.

3. Elon again violated his amended consent decree with the SEC. $TSLA
Jul 21, 2022 6 tweets 2 min read
Omead Afshar has been running Tesla for years. Internal documents show that he was in fact the company's de facto CEO. The fact that he has been suddenly pushed out is...strange. $TSLA Very few people get equal billing with Elon Musk, let alone in public. $TSLA
Jul 21, 2022 6 tweets 2 min read
They spelled "CARTEL" wrong. $TSLA Apparently the SpaceX Texas/Mexico border crossing just wasn't efficient enough. Also kind of dangerous with the exploding rockets. $TSLA
Jul 21, 2022 6 tweets 3 min read
Coinbase $COIN: A name you can trust. Surely this means that $COIN has strong internal controls, right @SEC_Enforcement? Oh let's not be silly, the SEC has better things to do, like nothing.
Jul 20, 2022 4 tweets 3 min read
Hello, @officialABAT.

Where did the funds come from to finance your family's purchases of Brooklyn real estate worth approximately $4.5 million USD? @officialABAT According to our calculations it would take you approximately 161 years to afford that amount on a Nigerian Governor's salary of approximately ₦11.5 million (about $27,800 USD). Any clarification would be appreciated.
Jul 19, 2022 18 tweets 2 min read
Word of the day: "complexify" $TWTR So far the Twitter v. Musk hearing on expedited treatment hasn't added anything new—just a passionate, hourly-billed, rehashing of the obvious. $TWTR
Jul 18, 2022 4 tweets 1 min read
Updated! Twitter, Inc. v. Elon R. Musk, X Holdings I, Inc., and X Holdings II, Inc.: plainsite.org/dockets/4umos4… $TWTR $TSLA This reads far more like Musk hunting for information about his critics, and not at all like the request of someone concerned primarily about fake accounts. Actual platform-wide account data itself is not necessary to make judgments about the company's process! $TWTR
Jul 18, 2022 4 tweets 2 min read
@DavidHundeyin What are the chances that someone unhappy about the court records on our website made a false report of "malicious software" on the page to Google? We have never had a report like this before. There is no malicious software, of course. @DavidHundeyin There are over 14 million court dockets on PlainSite. According to Google, the only one that reportedly has a problem—the first since 2011—involves Bola Tinubu.
Jul 18, 2022 7 tweets 2 min read
Based on traffic to PlainSite over the past week, Nigeria's interest in Bola Tinubu's money laundering past dwarfs global interest in Elon Musk. plainsite.org/dockets/2jqi9o… Tinubu committed 5 crimes per the IRS CI affidavit:

1. Money laundering (18 U.S.C. § 1956)
2. Using funds from unlawful activity (18 U.S.C. § 1957)
3. Bank fraud (18 U.S.C. § 1344)
4. Failure to file tax returns (26 U.S.C. § 7203)
5. Lying to federal agents (18 U.S.C. § 1001)
Jul 16, 2022 4 tweets 1 min read
Some Nigerian news websites have been posting claims like this one: "Trouble For Bola Tinubu As US Court Releases Records Of His Drug Money Forfeiture Trial." This is not quite right. The court records have been public since 1993. We just posted them on PlainSite. PACER does not typically have records for cases before 2001 because the courts worked mainly on paper then. Obtaining paper records usually means a request to the National Archives. Fortunately, in this case, someone else had already done that and we found them on another site.
Jul 2, 2022 5 tweets 2 min read
$TSLA sold fewer new cars, used cars, and completely fake data artifacts than expected this past quarter based on one of its several definitions of the term "deliveries," which is intended to defraud investors. reuters.com/business/autos… For additional context on the largest corporate fraud in history, which is ongoing as of this afternoon, see the thread below. $TSLA
Jul 2, 2022 8 tweets 4 min read
Judges ignore facts up and down the federal judiciary every day, from the district courts to the Supreme Court. Here's a recent opinion from Judge James Donato in Greenspan v. Qazi et al, in which he says that @AaronGreenspan's book and photograph had "no known commercial value." @AaronGreenspan Even after the above images of check payments were filed under oath as part of a declaration in the case, Judge Donato responded by ignoring them and refusing to admit that he had made an error. Instead, he put the word "errors" in quotation marks, as if it were crazy to suggest.
Jun 19, 2022 9 tweets 3 min read
Elon Musk has a transgender child who no longer wants to use the Musk name.

In The Matter Of: Xavier Alexander Musk: plainsite.org/dockets/4u5rf4… This and the "woke mind virus" tweets probably haven't helped matters.
Jun 15, 2022 12 tweets 3 min read
Updated! Greenspan v. Qazi et al: plainsite.org/dockets/49sdnb… $TSLA

But this isn't just any update. We obtained internal $TSLA documents from a number of whistleblowers that prove that Tesla and Elon Musk have been defrauding investors for years in a variety of different ways. But the most important is that Tesla has been lying about how many cars it sells.
Jun 15, 2022 6 tweets 3 min read
Absolutely false. Perhaps The New York Times didn't investigate hard enough for the past 12 years.

Example 1: aarongreenspan.com/writing/201312…
Example 2: plainsite.org/dockets/t6maun… The "nobody could have known" framing was predictable, but it's still offensive for how obviously stupid and wrong it is.
May 19, 2022 7 tweets 3 min read
District Judge James Donato has dismissed Greenspan v. Qazi et al in a four-page opinion.

Musk's and Tesla's lawyers—both the old ones and the new ones—have been paying Judge Donato's wife's firm, Solutus Legal, the entire time. CC: @JamesVGrimaldi

plainsite.org/dockets/49sdnb… $TSLA @JamesVGrimaldi In this case, still ongoing, two of the law firms and one of the parties are clients of Judge Donato's wife's small company. And Donato used to work at one of those firms himself. CC: @JamesVGrimaldi plainsite.org/dockets/37bq0u…
May 19, 2022 10 tweets 3 min read
New! Alex Spiro SEC Correspondence: plainsite.org/documents/3k2s… $TSLA As usual, the SEC wasted months redacting information that is already public. Names that were pointlessly redacted include Sam Teller, Jared Birchall, and the Elon Musk Revocable Trust, who all received subpoenas in December 2019.
May 18, 2022 4 tweets 2 min read
$TSLA Elon Musk is about 5% away from a margin call pursuant to his agreement to borrow $12.5 billion from a consortium of banks. $TSLA was trading over $1,000 per share on April 21, 2022. Now it's down 30% to about $700 per share. $TSLA $TWTR plainsite.org/markets/musk-e…