https://www.cnbc.com/2018/08/08/ex-sec-chair-musk-tweet-puts-him-at-risk-of-civil-criminal-penalties.html

Elon Musk could face civil and criminal penalties if found he didn't secure financing at the time of his tweet about taking Tesla private, former Securities and Exchange Commission Chairman Harvey Pitt told CNBC on Wednesday.

"If you make a false statement in connection with the trading of securities, you run the risk of both having to pay for the damages you caused and also you run the risk of a criminal prosecution," Pitt, now CEO of consulting firm Kalorama Partners, told "Squawk Box."