According to an exclusive Reuters report, U.S. prosecutors are investigating whether Tesla committed securities or wire fraud by deceiving investors and customers about its self-driving capabilities.
The Securities and Exchange Commission (SEC) is investigating Tesla’s claims to investors regarding its driver-assistance technologies. The investigation, which is not proof of misconduct, may lead to criminal prosecution, civil penalties, or nothing at all. According to a source familiar with the matter, prosecutors are still reviewing the vast amount of files Tesla submitted in response to subpoenas, which has delayed their decision-making process.
Furthermore, regulators are investigating whether Tesla committed wire fraud by misleading customers about its driver-assistance technologies and whether it conducted securities fraud by misleading investors.
While Tesla’s Autopilot and Full Self-Driving systems can help with lane changes, braking, and steering, they are not entirely autonomous. The Justice Department is investigating additional remarks made by Musk and Tesla, which indicate that their vehicles are self-driving, despite Musk cautioning drivers to be prepared to take over when driving.
Following independent investigations by U.S. authorities into hundreds of collisions involving Tesla vehicles operating on Autopilot, including some fatalities, the firm conducted a widespread recall of its cars.
In October 2022, Reuters exclusively reported on the U.S. criminal probe into Tesla, and it is now the first to publish on the precise criminal responsibility federal prosecutors are investigating.
