Trucking News: Nikola founder Trevor Milton charged with fraud

Mike

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The Department of Justice has charged Milton with two counts of securities fraud and one count of wire fraud, accusing him of defrauding investors with statements and videos.

Last summer fuel cell electric truck manufacturer Nikola Corp. was riding high after going public in June and breaking ground on its greenfield plant in the Arizona desert. Now founder and former CEO and chairman Trevor Milton is charged by the U.S. Justice Department with two counts of securities fraud and one count of wire fraud “in connection with his scheme to defraud and mislead investors about the development of products and technology by the company he founded, Nikola Corporation,” according to the DOJ.

He surrendered himself on July 29 and was freed on a $100 million bail.
 
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Hammer166

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The Department of Justice has charged Milton with two counts of securities fraud and one count of wire fraud, accusing him of defrauding investors with statements and videos.

Last summer fuel cell electric truck manufacturer Nikola Corp. was riding high after going public in June and breaking ground on its greenfield plant in the Arizona desert. Now founder and former CEO and chairman Trevor Milton is charged by the U.S. Justice Department with two counts of securities fraud and one count of wire fraud “in connection with his scheme to defraud and mislead investors about the development of products and technology by the company he founded, Nikola Corporation,” according to the DOJ.

He surrendered himself on July 29 and was freed on a $100 million bail.
It never smelled right with this company. All the hoopla about the initial turbine truck (which we picked the claims they were making apart, IIRC) , and next thing you know "abracadabra!" it's a fuel cell setup.

He must not have donated enough money to the right people, with the stuff some guys seem to get away with in the new energy tech fields.
 
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