According to Odaily Planet Daily, Musk revealed that the U.S. Securities and Exchange Commission (SEC) has asked him to accept the settlement terms within 48 hours, otherwise he will face multiple charges.
The SEC is investigating whether Musk committed securities fraud before his acquisition of Twitter in 2022, including whether his sale of Tesla stock and purchase of Twitter shares violated disclosure obligations.
The SEC previously sued Musk for his 2018 "Take Tesla Private" tweet, and Musk and Tesla each paid a fine of $20 million.
Musk's lawyers accused the SEC of "more than six years of continuous harassment" and questioned whether the move was directed by the White House or senior SEC officials. Musk is also reportedly facing other civil lawsuits related to Twitter transactions.
