• September 17, 2021

Exclusive: Nikola Founder Trevor Milton Indicted on Three Counts of Fraud

 Exclusive: Nikola Founder Trevor Milton Indicted on Three Counts of Fraud


A federal grand jury on Thursday indicted Nikola’s founder and former executive chairman, Trevor Milton, and charged the former executive three counts of fraud, the company confirmed. The grand jury charged Milton with two counts of securities fraud and wire fraud while allegedly lying about “nearly all aspects of the business.” From a report: “Today’s government actions are against Mr. Milton individually, and not against the company,” a Nikola spokesperson said in a statement. “Nikola has cooperated with the government throughout the course of its inquiry. We remain committed to our previously announced milestones and timelines and are focused on delivering Nikola Tre battery-electric trucks later this year from the company’s manufacturing facilities.” The US Attorney’s Office in Manhattan did not immediately return Roadshow’s request for comment, but CNBC reports that Milton surrendered to authorities and will appear in court later today. Milton resigned as executive chairman of Nikola last September following an in-depth financial investigation report from Hindenburg Research. Hindenberg confirmed it took a short position on the company’s stock when revealing numerous allegations against the company, including a number of falsehoods Milton presented.



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