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.
Steve Hill, CEO & President of Las Vegas Convention and Visitors Authority, talks all things Sin City including transportation news, nightlife and the Sphere!
AI is revolutionizing credit scoring by analyzing diverse data sources, enhancing accuracy & financial inclusion for those lacking traditional credit histories.
Founder & CEO at Align Business Advisory, Dena Jalbert, joins Cheddar to discuss the future of the M&A space and which sectors to watch out for. Watch!
Working five days a week has long been the corporate cultural norm. But some companies are exploring the option of letting employees work four days a week.
After a two-year-long high, interest rates are coming back to earth. So what happens next? Plus: Boeing's woes, UAW may strike, and of course Elon's World.
