World: Saudi wealth fund chief refuses to testify at Musk’s Tesla fraud trial

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Elon Musk can’t count on the head of Saudi Arabia’s sovereign wealth fund to help his defence at an upcoming trial over claims by investors that the Tesla CEO defrauded them in 2018.

Through their lawyers, Yasir Al-Rumayyan and other officials from the kingdom’s Public Investment Fund argued to the judge overseeing the case Thursday that they’re not legally obligated to show up for the trial in San Francisco federal court that’s set to start 17 January.

“In other words, even defendants describe the subpoenas as having no force or effect,” according to the filing. Coming just weeks before the 17 January trial, Musk’s request was delivered by “simply leaving a copy of the papers with an office administrator of a US subsidiary of the PIF in New York”. Musk’s previous court filings indicate he’s relying heavily on an argument that the PIF had tried to persuade Musk to take Tesla private for years. His lawyers have described multiple meetings between the Tesla CEO and Rumayyan, including a 2017 dinner at Tesla’s factory where there was discussion of an estimated $30-billion to $60-billion required to fund the transaction.

 

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Pathetic! The only reason they are going after him is because he is honest!

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