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Elon Musk, his brother under US SEC probe for insider trading

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The US Securities and Exchange Commission (SEC) has opened an investigation into Elon Musk and his brother Kimbal Musk for allegedly violating insider trading regulations with recent share sales.

The Wall Street Journal reported that the regulator is investigating whether recent stock sales by the Tesla CEO and his brother “violated insider-trading rules”.

The SEC probe began last year after Kimbal sold 88,500 Tesla shares worth $108 million, “one day before the Tesla chief polled Twitter users asking whether he should unload 10 per cent of his stake in the electric-car maker and pledging to abide by the vote’s results”, the report said late on Thursday.

Kimbal, who also sits on Tesla’s board of directors, has frequently traded Tesla stock at regular intervals under a plan.

The regulators will now look into whether Musk told his brother about the poll or potential sale before Kimbal sold his shares on November 5, “or if Kimbal otherwise learned of the poll and then traded”, according to the report.

Musk sold more than $16 billion worth shares since early November when he polled Twitter users about offloading 10 per cent of his stake in the electric-car maker.

“Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock,” he had posted.

In a tweet late on Thursday, Musk said that he was “building a case” against the SEC and declared, “I didn’t start the fight, but I will finish it.”

The conflict between Musk and the SEC began in September 2018 when the SEC charged Musk with making “false and misleading” statements to investors after he wrote on Twitter in August that he had secured enough funding for a massive private buyout of Tesla at $420 a share.

The stock seesawed all month and the deal Musk alluded to never materialised.

Musk and Tesla had to pay $20 million in fines each, and Musk was forced to step down as Chairman for at least three years as part of a revised settlement agreement the agency reached with the automaker and CEO in 2019.

Earlier this week, Musk (via his attorney) accused the US SEC of leaking information about a federal investigation in retaliation for his public criticism of federal financial regulators.

The letter came after Musk alleged that the SEC was engaged in harassment by continually investigating him, “trying to chill his right to free speech”.

National

CBI arrests junior passport assistant, agent for taking bribe in Mumbai

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New Delhi, May 29: The Central Bureau of Investigation (CBI) has arrested two accused, including an Office Assistant/ Verification Officer working at Passport Seva Kendra (PSK), Lower Parel in Mumbai and an agent in a case related to issuing passports based on fake documents in lieu of a bribe.

The CBI registered a case against the Office Assistant/VO, PSK, Lower Parel, Mumbai and other private persons working as passport agents.

According to a statement issued by the CBI’s office in Delhi, during the years 2023-2024, the said accused officer entered into a criminal conspiracy with other private persons. In furtherance of the said criminal conspiracy, he was obtaining an undue advantage by doing passport-related work.

Along with the agent and other unknown persons, the accused official issued fake passports to applicants based on forged documents.

It was further revealed that seven unknown persons purporting as applicants had submitted forged documents such as Aadhaar card copy, Pan card copy, Bank Account Statement and Birth Certificates as their address and identity proofs to the Passport Office.

During the investigation, all the documents provided were found to be forged.

Further, chats between the accused public servant and the agent revealed discussion about the payment of undue advantage from these fake passport applicants.

The CBI press note said that the investigation also revealed that mobile numbers provided by applicants in the passport applications were not in service.

The ‘Police Verification’ was carried out after issuance of those passports under the Tatkaal Scheme (earlier waived during the issuance of passports), and the findings were adverse, as the addresses provided on the passport applications were fake.

“As the accused were evasive and did not cooperate during the investigation, both were arrested,” the press note mentioned.

The two accused were produced before the Special CBI Court, Mumbai and were sent to police custody for five days till June 2.

The CBI said that the investigation is continuing in the case.

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Crime

CBI arrests two accused including Jr. Passport Assistant of PSK, Lower Parel and an agent in a case related to corruption

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Central Bureau of Investigation (CBI) has arrested two accused including Office Assistant/ Verification Officer working at Passport Seva Kendra (PSK), Lower Parel Mumbai and an agent (private person) in a case related to issuing passports based on fake documents in lieu of bribe.

A case was registered by CBI against Office Assistant/VO, PSK, Lower Parel, Mumbai and other private persons working as passport agents. It was alleged in FIR that during the years 2023-2024, said accused public servant entered a criminal conspiracy with other private persons and in furtherance of the said criminal conspiracy, he has been obtaining undue advantage for doing passport related work.

In furtherance of the conspiracy with agent (private person) and other unknown persons, accused public servant has got issued fake passports of unknown applicants based on forged documents.

It was further revealed that unknown seven persons purporting as applicants had submitted forged documents such as Aadhar card copy, Pan card copy, Bank Account Statement and Birth Certificates as their address and identity proofs, in the Passport Office. During investigation, all the documents provided by them have also been found to be forged.

Further, communications chats between accused public servant and agent (private person) revealed discussion about payment of undue advantage concerning these fake passport applicants.

Investigation also revealed that mobile numbers provided by applicants in the passport applications are not in service. The Police Verification reports carried out after issuance of those passports under Tatkaal Scheme (which were earlier waived of during issuance of passports) have been found to be adverse, as addresses given on passport applications were fake.

As accused were evasive and did not cooperate during investigation. Both the accused were arrested. They were produced before Special CBI Court, Mumbai and have been sent to police custody for 05 days i.e. till 02.6.2025.

Investigation is continuing.

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International

UNSC member Panama’s Prez expresses ‘support for India’s fight against terrorism’

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Panama City, May 28: Jose Raul Mulino Quintero, the President of Panama and a member of the United Nations Security Council (UNSC), has expressed “support for India’s fight against terrorism,” Congress MP Sashi Tharoor said after a delegation of members of Parliament met him.

At their “constructive and productive” meeting in the Presidential Palace, Mulino “expressed his understanding and support for India’s fight against terrorism,” Tharoor, who heads the delegation, said in a post on X on Wednesday (local time).

Panama’s Foreign Minister Javier Martinez-Acha Vasquez, who hosted a lunch for the delegation, was at the meeting with the President along with several senior officials.

Martinez-Acha “extended full support understanding of Panama on terrorism for India,” Taranjit Singh Sandhu, a former ambassador to the US who is accompanying the delegation, said in an X post.

They were joined by Vice-Minister Carlos Hoyos, as well as two members of Panama’s National Assembly, which was “a tribute to the regard in which India is held here,” Tharoor said.

During the meeting, Tharoor passed around pictures of Pakistani officials at the funeral of Hafiz Abdur Rauf, a senior leader of the Lashkar-e-Taiba and a designated a terrorist by the United Nations Sanctions Committee.

“There is no greater proof of official complicity” of Pakistan with terrorism, he told them.

Pakistan military’s top brass, including Lt Gen Fayyaz Hussain Shah and Maj Gen Rao Imran, and Punjab Police Inspector General Usman Anwar were among those who attended the funerals of Rauf and other terrorists killed in the Operation Sindoor hits on terrorism centres.

The parliamentary delegation was visiting this influential Central American country that is an elected member of the UN Security Council to make clear India’s policy of zero-tolerance for terrorism in the aftermath of the religiously motivated massacre of 26 people at Pahalgam by Pakistan-linked terrorists.

India launched Operation Sindoor to hit the infrastructure of terrorism in Pakistan and the areas of Pakistan-occupied Kashmir.

Islamabad launched attacks on targets in India, including temples, gurdwaras, and a convent, escalating the conflict.

Reflecting a broad national consensus on the issue, the delegation included parliamentarians from across party lines Shambhavi of the Lok Janshakti Party (Ram Vilas), Sarfaraz Ahmad of the Jharkhand Mukti Morcha, Milind Murli Deora of the Shiv Sena, and BJP leaders Shashank Mani Tripathi, Bhubaneswar Kalita, and Tejasvi Surya, along with GM Harish Balayogi of the Telugu Desam Party.

The delegation, which has visited New York and Guyana, is to visit Colombia and Brazil and head to Washington in the quest to rally support for India against terrorism.

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