(Bloomberg) — Nikola Corp. founder Trevor Milton was convicted of fraud for misleading investors in the electric truck company, a stunning downfall for the door-to-door salesman turned billionaire who promised to revolutionize the auto industry. Most Read from Bloomberg Milton, 40, was found guilty Friday of one count of securities fraud and two counts of … Read more
A jury has convicted Trevor Milton of defrauding investors by misleading them about the technology at his electric truck start-up Nikola to drive up the company’s stock price. Milton, 40, whose company briefly boasted a higher valuation than Ford before plummeting after a 2020 report by short seller Hindenburg Research called the company “an intricate … Read more
(Bloomberg) — Nikola Corp.’s founder cost a San Diego man about $160,000 trading the company’s hyped shares, he told the jury in Trevor Milton’s criminal fraud trial. Most Read from Bloomberg Joseph Ryan was called to the witness stand Thursday by federal prosecutors, who allege that Milton misled investors by exaggerating the electric truck maker’s … Read more
(Bloomberg) — Nikola Corp.’s chief executive officer told a jury he learned only after joining the company that its debut electric truck had neither a gas-powered turbine nor a fuel cell when founder Trevor Milton unveiled it. Most Read from Bloomberg Milton, who is on trial for allegedly lying to investors about Nikola’s progress, was … Read more
Nikola CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton, “was prone to exaggeration in public statements.” Testifying in Mr. Milton’s securities-fraud trial, Mr. Russell said that before coming on board in 2019 as president of Nikola, he … Read more
For many, he’s the worst fraudster since Elizabeth Holmes fooled some of the world’s smartest people with her blood testing company Theranos. Trevor Milton is due in court today, where he will stand trial for manipulating investors with promises he was the next Elon Musk and his company, Nikola Corp., the next Tesla. He even … Read more
Trevor Milton, the founder of Nikola, masterminded a scheme to cheat investors by driving up his electric vehicle company’s shares, prosecutors alleged at the start of his trial on criminal fraud charges. Nikola’s former chief executive sat in a grey suit during opening arguments in Manhattan on Tuesday, as assistant United States attorney Nicolas Roos … Read more
Jury selection began Monday in the fraud trial of Trevor Milton, the founder and former executive chairman of Nikola Corp accused of lying about the electric truck startup’s vehicles. Milton was indicted last year on charges of securities fraud and wire fraud. Authorities have accused Milton, of Oakley, Utah, of making false claims about the … Read more
Fisker (FSR) and Lucid (LCID) prepare to report late Wednesday, kicking off a heavy slate of earnings from emerging U.S. EV makers, battery plays and charging companies. NKLA stock jumped Monday with the EV startup’s earnings due early Thursday. X On Monday, Nikola (FSR) announced it will acquire Romeo Power (RMO). Automakers have rushed to … Read more