The founder and one-time executive chair of Nikola Corp. surrendered Thursday in New York on criminal charges alleging that he made false and misleading statements to investors about the electric and hydrogen-powered truck startup.
Trevor Milton resigned from Nikola in September amid allegations of fraud. At the time, Milton said he would defend himself against accusations that the company made false claims about its vehicles, allegations Nikola rejects.
In an indictment unsealed Thursday in Manhattan federal court, prosecutors charged Milton with two counts of securities fraud and one count of wire fraud.
He was accused in the indictment of making false and misleading statements through social media and television, print and podcast interviews about the company’s product and technology development.
The indictment said the claims were deceptive, false and misleading. A message seeking comment was left with his lawyer.
Milton was scheduled to make an initial court appearance in the afternoon.
Shares of Nikola Corp. tumbled 7% before the opening bell Thursday.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
