Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks & More Latest News

Trevor Milton, the Nikola founder who enticed auto-industry leaders and traders together with his promise for a revolution in electrical vehicles, faces a securities-fraud trial starting this week on allegations that he lied about his firm’s growth of environmentally pleasant expertise.

Federal prosecutors in Manhattan final yr accused Mr. Milton of operating a scheme to counterpoint himself and enhance his stature as an entrepreneur by falsely hyping Nikola’s prospects and duping nonprofessional traders, together with stock-market novices. He was indicted on two counts of wire fraud and two counts of securities fraud. Jury choice begins Monday.



 

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