U.S. jury convicts Nikola founder of fraud

investors about the electric- and hydrogen-powered truck maker's technology starting in November 2019.Milton, wearing a blue suit and green tie, shook his head as the jurors confirmed their verdict. His attorney said he will file court papers challenging the verdict.in July 2021. He left Nikola in September 2020 after a report by short seller Hindenburg Research called the company a "fraud.

They said Milton's improper statements included that Nikola built an electric- and hydrogen-powered "Badger" pickup from the "ground up," developed batteries in-house that he knew it was purchasing elsewhere and had early success in creating a "Nikola One" semi-truck he knew did not work.

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Nikola founder Trevor Milton convicted on three charges of fraud | EngadgetTrevor Milton, the founder and former executive chairman of Nikola, has been found guilty on three counts of fraud for misleading the electric vehicle company’s investors about its business and technology.. Hope he does some good time Most EV startups turn out to be fraud. Sad because it’s a cool company that honestly would rival Tesla and has great ideas, just made a stupid decision to lie and tell people their stuff is almost ready when it clearly was not
Source: engadget - 🏆 276. / 63 Read more »