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.
Ahead of the WNBA season and in the midst of March Madness, New York Liberty CEO Keia Clarke discusses the team’s new deal with Barclays and bringing even more attention to women’s sports.
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Ed Mitzen, the CEO of Business for Good, explains how and why he’s giving back by funding businesses from marginalized entrepreneurs to push social change.
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.
Candace Mitchell Harris discusses her path from computer scientist to founder of beauty tech tool MYAVANA – and how it uses A.I. to analyze each person’s unique haircare needs.
Michael Harris, NYSE global head of capital markets shares what to expect from IPOs in 2024, including A.I. excitement and why interest rate cuts are always helpful.
Lacy Garcia, Founder & CEO of Willow, shares why women, traditionally underserved by fintech, are looking for trust and a personal relationship from their financial advisor.
