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They seem to be investigating this, at least in part: “Twitter Now Privately Owned By Elon Musk, Big Banks, a Long List of Investment Companies, including the Govt. of Qatar, plus a Saudi Prince” https://miningawareness.wordpress.com/2022/10/28/twitter-now-privately-owned-by-elon-musk-big-banks-a-long-list-of-investment-companies-including-the-govt-of-qatar-plus-a-saudi-prince/

“Here, the SEC has exercised its broad statutory authority and authorized the SEC staff to investigate, among other things, whether provisions of the federal securities laws have been violated in connection with Musk’s 2022 purchases of Twitter stock and his 2022 statements and SEC filings relating to Twitter. Andrews Decl., 1 3. The SEC authorized this investigation by issuing a Formal Order on April 14, 2022. Id., I 5. The Commission issued a Corrected Formal Order on July 15, 2022. Id. The SEC’s investigation and the subpoena issued to Musk are unquestionably within the scope of the Formal Order, Corrected Formal Order, and the SEC’s authorized law-enforcement powers.
Second, the information sought by the SEC’s subpoena is relevant to the SEC’s investigation. The subpoena seeks the testimony of Musk so that the Commission may obtain information from him regarding his 2022 purchases of Twitter stock and his 2022 statements and SEC filings relating to Twitter. Musk’s testimony on those subjects is plainly relevant to the Commission’s investigation. Moreover, in the context of an administrative investigation, “the notion of relevance is a broad one. An agency can investigate merely on the suspicion that the law is being violated, or even just because it wants assurance that it is not. So long as the material requested touches a matter under investigation, an administrative subpoena will survive a challenge that the material is not relevant.” https://www.sec.gov/files/litigation/litreleases/2023/application25880.pdf

“U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25880 / October 5, 2023
Securities and Exchange Commission v. Elon R. Musk, No. 3:23-mc-80253 (N.D. Cal. filed October 5, 2023)
SEC Files Subpoena Enforcement Action Against Elon R. Musk Seeking an Order Compelling his Attendance for Investigative Testimony

The Securities and Exchange Commission (“SEC”) announced that it has filed an application seeking an order directing Elon Musk (“Musk”) to comply with an investigative subpoena calling for his appearance for testimony, with which Musk failed to comply.

If a person or entity refuses to comply with a subpoena issued by SEC enforcement staff pursuant to a formal order of investigation, the Commission may file a subpoena enforcement action in federal district court seeking an order compelling compliance.

According to the SEC staff’s filing in the U.S. District Court for the Northern District of California, the testimony subpoena to Musk relates to an ongoing investigation by the SEC regarding, among other things, potential violations of various provisions of the federal securities laws in connection with (a) Musk’s 2022 purchases of Twitter, Inc. (“Twitter”) stock, and (b) Musk’s 2022 statements and SEC filings relating to Twitter. According to the filing, the SEC seeks Musk’s testimony to obtain information not already in the SEC’s possession that is relevant to its legitimate and lawful investigation.

According to the filing, Musk failed to appear for testimony as required by the investigative subpoena served by the SEC, despite: (1) agreeing to appear for testimony on a mutually agreed upon date in September 2023; (2) having been served with a subpoena in May 2023 requiring his appearance for testimony in the SEC’s San Francisco Regional Office on that mutually agreed upon date; and (3) raising no objection to the subpoena from May 2023 until two days before his scheduled testimony date in September 2023, when Musk notified the SEC that he would not appear. According to the filing, Musk attempted to justify his refusal to comply with the subpoena by raising, for the first time, several spurious objections.  

The SEC staff’s application seeks an order from the court directing Musk to comply with the subpoena. The application is subject to the court’s ruling. The SEC staff is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.
* Application “ https://www.sec.gov/files/litigation/litreleases/2023/application25880.pdf
https://www.sec.gov/litigation/litreleases/lr-25880

Twitter Now Privately Owned By Elon Musk, Big Banks, a Long List of Investment Companies, including the Govt. of Qatar, plus a Saudi Prince