International

Elon Musk takes stand in Tesla tweet fraud trial

Photo: Reuters

January 23 | By AFP | Glenn Chapman |

Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors.

Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018 with untrue tweets about having funding secured to buy out shareholders at $420 a share.

The multi-billionaire’s tweets sent the Tesla share price on a rollercoaster ride and Musk was sued by shareholders who say the tycoon acted recklessly in an effort to squeeze investors who had bet against the company.

Musk, who bought Twitter itself in October, downplayed the power of his tweets noting under questioning that he once posted that he thought Tesla share price was too high, and “it went higher, which is counter-intuitive.”

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“What I’m trying to say is that the causal relationship is clearly not there simply because of a tweet,” Musk said in a testimony that lasted only thirty minutes and was to be continued on Monday.

The hearing on Friday began with Harvard law and business professor Guhan Subramanian, who was called as an expert witness by the plaintiffs.

He called Musk’s tweeted proposal to take Tesla private as “illusory” and “just wrong” in how it deviated wildly from the way such mega-deals usually take place.

“All I can say is this is just wrong; as a matter of deal process… this isn’t correct,” Subramanian said while being questioned by a defense lawyer about Musk’s tweets.

‘Reckless’ words

Testimonies in the trial opened Wednesday with a lawyer for the upset investors telling jurors Musk lied about having funding in place.

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Nicholas Porritt, who represents lead plaintiff Glen Littleton and other Tesla investors, said the tweets cost “regular people” to lose “millions and millions of dollars.”

Called as the first witness, 71-year-old Littleton told jurors he was heavily invested in Tesla in 2018 in a way that banked on the share price climbing to $500 or more.

Littleton testified that he was “pretty shocked” by Musk’s tweet about taking the company private at $420 a share because it threatened almost all the money he had invested in Tesla.

“It was going to pretty much wipe me out,” Littleton said.

Littleton told jurors he scrambled to save what he could of his investments, getting out of most of his positions at a huge loss.

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Musk is expected to continue testifying at trial on Monday, when his lawyers will get a chance to refute the accusation that he was being deceitful.

The case revolves around a pair of tweets in which Musk said “funding secured” for a project to buy out the publicly traded electric automaker, then in a second tweet added that “investor support is confirmed.”

Porritt told jurors that Musk had selected the $420 share price in the tweet “as a joke” and that the funding to take Tesla private was never locked in, nor credibly pursued.

In his own opening remarks, Musk attorney Alex Spiro said that even though the tweets may have been a “reckless choice of words”, they were “not fraud, not even close.”

The fraud trial is expected to last three weeks.

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International

Hiroshima survivor who embraced Obama dies at 88

The emotional embrace between Barack Obama and Hiroshima survivor Mori—who was eight years old when the United States dropped the atomic bomb in 1945—resonated around the world.

According to Asahi Shimbun and other local media, Mori died on Saturday at a hospital in Hiroshima.

Mori, known for his research on the fate of American prisoners of war in Hiroshima, was thrown into a river by the force of the explosion on August 6, 1945, during the atomic bombing of the city.

In a past interview with AFP, ahead of his meeting with Obama at the Hiroshima Peace Memorial in 2016, Mori recalled the chaos and desperation that followed the blast.

He described how, after emerging from the water, he encountered injured civilians seeking help amid the devastation, an experience that stayed with him throughout his life.

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In 2016, Obama became the first sitting U.S. president to visit Hiroshima, where he paid tribute to the victims of the first atomic bomb used in warfare. During the visit, Mori was visibly moved as he met the president, sharing a brief but powerful moment that symbolized remembrance and reconciliation.

The bombing of Hiroshima resulted in the deaths of approximately 140,000 people, including those who succumbed to radiation exposure in the aftermath.

Three days later, a second atomic bomb was dropped on Nagasaki, killing an estimated 74,000 people and contributing to the end of World War II.

International

Colombia seeks ‘total suffocation’ of armed groups with regional support

Colombia is advancing a strategy aimed at the “total suffocation” of illegal armed groups, seeking to corner them in border regions with the support of Ecuador and Venezuela, Defense Minister Pedro Sánchez said in an interview with AFP.

According to the minister, coordinated pressure from neighboring countries—backed by United States—aims to dismantle criminal networks that use cross-border routes to traffic Colombian cocaine toward North America and Europe.

For decades, armed groups involved in Colombia’s internal conflict have relied on border territories as strategic rear bases to evade military operations and maintain logistical support.

However, Sánchez said that dynamic is beginning to change.

“We expect a total suffocation between both nations so they have no spaces where they can live or feel safe […] to close off any room they might have,” he stated during the interview in Bogotá, less than five months before the end of President Gustavo Petro’s term.

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Regional developments have reinforced this strategy. Following the capture of Nicolás Maduro in a U.S. military operation, Washington has increased its influence in Caracas, where interim leader Delcy Rodríguez has implemented a renewed anti-narcotics policy.

Meanwhile, in Ecuador, President Daniel Noboa—a key U.S. ally in the region—has launched a two-week security plan under strict curfews to combat criminal gangs, with U.S. support.

Sánchez argued that these combined efforts leave illegal organizations with fewer escape routes and operational spaces, effectively placing them in a “dead end.”

International

Two killed in shooting at restaurant near Frankfurt Airport

Two people were shot dead early Tuesday at a restaurant in Raunheim, near Frankfurt Airport, according to local police.

Preliminary findings indicate that an armed individual entered the establishment at around 03:45 local time (02:45 GMT) and opened fire on the victims, who died at the scene from their injuries.

The suspect fled and remains at large, while the motive behind the shooting is still unclear, German media reported. Authorities have launched a large-scale search operation.