{"id":501058,"date":"2022-10-15T03:42:25","date_gmt":"2022-10-15T00:42:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/trevor-milton-nikola-founder-convicted-of-fraud\/"},"modified":"2022-10-15T03:42:25","modified_gmt":"2022-10-15T00:42:25","slug":"trevor-milton-nikola-founder-convicted-of-fraud","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/trevor-milton-nikola-founder-convicted-of-fraud\/","title":{"rendered":"#Trevor Milton, Nikola founder, convicted of fraud"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25724c5775d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25724c5775d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/trevor-milton-nikola-founder-convicted-of-fraud\/#%E2%80%9CTrevor_Milton_Nikola_founder_convicted_of_fraud%E2%80%9D\" >&#8220;Trevor Milton, Nikola founder, convicted of fraud&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CTrevor_Milton_Nikola_founder_convicted_of_fraud%E2%80%9D\"><\/span>&#8220;Trevor Milton, Nikola founder, convicted of fraud&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/trevor-milton-nikola.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Nikola founder Trevor Milton on Friday was convicted by a jury of fraud in a case alleging he lied to investors about the electric vehicle company\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>.<\/p>\n<p>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.<\/p>\n<p>During the trial in federal court in Manhattan, prosecutors depicted Milton, 40, as a\u00a0\u201ccon man\u201d\u00a0who\u00a0sought to deceive\u00a0investors about the electric- and hydrogen-powered truck maker\u2019s technology starting in November 2019.<\/p>\n<p>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.<\/p>\n<p>Milton, of Oakley, Utah, was\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/former-nikola-corporation-ceo-trevor-milton-charged-securities-fraud-scheme\">indicted<\/a>\u00a0in July 2021. He left\u00a0Nikola\u00a0in September 2020 after a report by short seller Hindenburg Research called the company a \u201cfraud.\u201d<\/p>\n<p>Prosecutors accused Milton of using <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> and interviews on television, podcasts and in print to make false and misleading claims about\u00a0Nikola\u2019s trucks and technology.<\/p>\n<p>They said Milton\u2019s improper statements included that\u00a0Nikola\u00a0built an electric- and hydrogen-powered \u201cBadger\u201d pickup from the \u201cground up,\u201d developed batteries in-house that he knew it was purchasing elsewhere and had early success in creating a \u201cNikola\u00a0One\u201d semi-truck he knew did not work.<\/p>\n<p>Milton\u2019s statements about\u00a0Nikola\u00a0came as the company 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\u00a0Nikola\u00a0stock options as part of the purchase price based on Milton\u2019s claims about the company.<\/p>\n<p>The defense and the prosecution delivered closing arguments to the jury on Thursday in a trial that\u00a0began\u00a0on Sept. 13. The prosecution said Milton was obsessed with the company\u2019s stock price and made the statements to inflate it and his own net worth. The defense said prosecutors had distorted Milton\u2019s statements about\u00a0Nikola\u2019s plans to shake up the automotive industry.<\/p>\n<p>Sentencing for Milton was set for Jan. 27.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/10\/14\/trevor-milton-nikola-founder-convicted-of-fraud\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Trevor Milton, Nikola founder, convicted of fraud&#8221; Nikola founder Trevor Milton on Friday was convicted by a jury of fraud in a case alleging he lied to investors about the electric vehicle company\u2019s technology. The jury found Milton guilty on one count of securities fraud and two counts of wire fraud after deliberating for around&#8230;<\/p>\n","protected":false},"author":1,"featured_media":501059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/trevor-milton-nikola.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134150,72349,70462,71006,76162],"class_list":["post-501058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-14-22","tag-convictions","tag-electric-cars","tag-fraud","tag-trials"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/501058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=501058"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/501058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/501059"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=501058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=501058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=501058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}