Former Tesla employee charged with embezzling $9.3 million from Elon Musk's company
Former Tesla employee Salil Parulekar was charged Thursday by a federal grand jury of embezzling roughly $9.3 million from Elon Musk's electric car company in 2016-2017, the Justice Department announced. The indictment comes as the result of an FBI inquiry into Parulekar, who allegedly engaged in a scheme that involved diverting payments, falsifying invoices, identity theft and impersonating an employee of one of Tesla's suppliers, according to the U.S. Attorney's Office for the Northern District of California. Parulekar allegedly diverted money owed to one Tesla supplier and caused it to be paid to another supplier, whose contract Tesla had already terminated. Tesla's stock is up 12.8% year to date. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.