Nikola founder Trevor Milton indicted in US for misleading investors

CEO and founding father of U.S. Nikola Trevor Milton attends a data convention held to gifts its new fat-electrical and hydrogen gasoline-cell battery trucks in partnership with U.S. Nikola, at an tournament in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca

NEW YORK, July 29 (Reuters) – Trevor Milton, the founding father of electrical truck maker Nikola Corp (NKLA.O), has been indicted on costs of making untrue and misleading statements to consumers, the U.S. Department of Justice talked about on Thursday.

The indictment talked about that, from November 2019 to September 2020, Milton schemed to defraud consumers into attempting for Nikola shares through statements in regards to the corporate’s product and expertise sort.

Nikola didn’t as we recount respond to requests for comment.

Closing September, Hindenburg Compare talked about in a paper that it modified into once brief-promoting Nikola stock and labelled the corporate a “fraud”, a designate it denied.

In February, Nikola disclosed, following a evaluation by an launch air laws company, that every it and Milton had made several statements that were partially or totally unsuitable. learn extra

Reporting by Jonathan Stempel in Contemporary York; Bettering by Kevin Liffey

Our Requirements: The Thomson Reuters Belief Principles.

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