It is well known in the crypto arena Elon Musk’s role in the Dogecoin meme.

His tweets have proven more than once their positive impact on the price of Dogecoin.

According to a Bloomberg report, Musk, SpaceX and Tesla are being sued and are seeking $258 billion in damages over the Doge cryptocurrency.

The case filing points to allegations that these names are part of a racketeering scheme to support Dogecoin.

Dogecoin fraud:

The Bloomberg report states that Keith Johnson, a US citizen, is behind the lawsuit.

Johnson was allegedly defrauded by the Dogecoin pyramid scheme due to Elon Musk.

He claimed that Musk and his companies constituted an illegal blackmail scheme to inflate the price of Dogecoin.

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In his complaint filed Thursday in federal court in Manhattan, he said:

The defendants falsely and misleadingly claim that Dogecoin is a legitimate investment when in fact it has absolutely no value.

Demanding that Elon Musk be banned from promoting Dogecoin:

In the complaint, Johnson sought to represent all those who have lost money trading Dogecoin since April 2019.

He demanded $86 billion in damages and $172 billion in triple damages, and demanded action against Elon Musk.

The plaintiff wants the court to issue an order preventing the CEO of Tesla from promoting the world’s largest meme.

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Johnson also wants to declare Dogecoin trading as gambling under state and federal law.

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