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A federal jury on Friday found Trevor Milton guilty of defrauding investors by lying about the supposed technical achievements of Nikola, the electric truck maker he founded. Mr. Milton was convicted of one count of securities fraud and two counts of wire fraud, the most serious of which carry a maximum prison sentence of 20 […]
“Trevor Milton is a con man.” With those words, the US launched its closing statement in Milton’s trial on Thursday, as the government sealed its case against the Nikola Corp. founder it claims defrauded investors with breathless hype about the electric truck maker. “He lied on Twitter, he lied on podcasts, he lied on TV […]
The SEC’s complaint, filed in U.S. District Court for the Southern District of New York, alleges that Milton founded Nikola in 2015 with the primary goal of manufacturing trucks that run on alternative fuels with low or zero emissions, and building an alternative fuel station infrastructure to support those vehicles. Milton allegedly helped Nikola raise […]
Trevor Milton, founder of EV start-up Nikola, was indicted on three counts of criminal fraud by a federal grand jury for allegedly lying about “nearly all aspects of the business,” according to the indictment, which was unsealed Thursday. The U.S. Attorney’s Office in Manhattan accused the billionaire, who resigned as chairman in September, with two […]