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Report: Tesla and Elon Musk face criminal investigation

Elon Musk
Photo: Joshua Lott via Getty Images

The Department of Justice is investigating Tesla and its CEO Elon Musk for fraud, after Musk tweeted last month that he had "funding secured" for a possible buyout of the company at $420 per share, reports Bloomberg.

The big picture: Tesla already is under civil investigation by the SEC for the same tweet.