Home Business Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks

Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks

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Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks


Trevor Milton, the Nikola founder who enticed auto-industry leaders and investors with his promise for a revolution in electric trucks, faces a securities-fraud trial beginning this week on allegations that he lied about his company’s development of environmentally friendly technology.

Federal prosecutors in Manhattan last year accused Mr. Milton of running a scheme to enrich himself and boost his stature as an entrepreneur by falsely hyping Nikola’s prospects and duping nonprofessional investors, including stock-market novices. He was indicted on two counts of wire fraud and two counts of securities fraud. Jury selection begins Monday.



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