Nikola Founder Charged with Fraud Over False Claims Made About Electric Trucks

Trevor Milton was arrested this week by federal authorities, charged with allegedly lying to investors while CEO of Nikola. The indictment states during his tenure, Milton made misleading and false statements about “nearly all aspects of the business” of developing electric and hydrogen-powered vehicles. Investment research firm Hindenburg Research exposed Milton’s deception including proving a company video of its hydrogen-powered truck driving was faked. Nikola has not been charged.

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