Nikola founder Trevor Milton Nicked and Guilty

Nikola nicked

We reported recently on the start of the fraud trial of Nikola founder and chief con artist, Trevor Milton. – Yes he who filmed a truck heading down the freeway claiming it was Hydrogen powered then in fact it had no engine as was rolling down hill powered entirely by gravity.

The jury found Milton guilty on one count of securities fraud and two counts of wire fraud after deliberating for around five hours. Milton was acquitted on an additional count of securities fraud.

During the trial in federal court in Manhattan, prosecutors depicted Milton, 40, as a “con man” who sought to deceive investors about the electric- and hydrogen-powered truck maker’s technology starting in November 2019.

nikola-truck.jpg

Reuters report:

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.

Milton, of Oakley, Utah, was indicted in July 2021. He left Nikola in September 2020 after a report by investigate researcher and shorter Hindenburg Research called the company a “fraud.”

Prosecutors accused Milton of using social media and interviews on television, podcasts and in print to make false and misleading claims about Nikola’s trucks and technology.

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.

Milton made the statements about Nikola as it joined the mounting number of tech and EV companies going public through special purpose acquisition vehicles or SPACs. He also was accused of defrauding the seller of a Utah ranch, who accepted Nikola stock options as part of the purchase price based on Milton’s claims about the company.

Image care of Reuters.

Share:

More Posts

tesla-debuts-new-model-3

Tesla Second Quarter 2025 Units

In Q2 Tesla produced over 410,000 vehicles, delivered over 384,000 vehicles and deployed 9.6 GWh of energy storage products. Tesla just released its production and delivery report for Q2 2025, and it confirmed that it delivered 384,122 electric vehicles during the quarter: Q2 2025   Production Deliveries Subject to operating lease accounting Model 3/Y 396,835

tesla Uk

June 2025 Tesla UK Prices

Tesla Model 3 pricing remain unchanged during June 2025, making 25 months of no increase to UK retail pricing. Tesla is offering some great 0% finance offers of PCP and HP with monthly prices starting at just £249. Also Stealth Grey and Solid Black are the new While at no additional cost. White, Black and

april 2025

June Solar Production

500 kWh Produced in June 2025 – Summer sun shine. As the UK warms up for summer, June brings us 500 kWh os solar production. This June was very similar to June 2024 with 500 compared to 512 kWh and both below 2023 with over 600 KWh. We exported 34% or 167 kWh back to

WWDC

WWDC Announcement summary

WWDC for developers Apple has introduced the Foundation Models Framework and system-level APIs, allowing developers to integrate AI features directly into apps without needing to send data to external LLM providers. This approach focuses on tight integration and consistency across its devices. All supported iPhones, iPads, and Macs will share a common AI interface, although

Send Us A Message