Nikola founder Trevor Milton sentenced to four years in prison in EV truck fraud case
Trevor Milton, the founder and former CEO of electric truck company Nikola, was sentenced to four years in prison after a jury found him guilty of misleading investors about the company’s technology. Milton was also ordered to pay a $1 million fine.
Federal prosecutor said Milton had lied about Nikola’s capabilities, including an assertion that it had built its own electric truck, the Nikola One, from the “ground up.” They also accused him of staging a video that purportedly showed its Nikola One semi driving under its own power when it was actually rolling down a hill.
During the sentencing hearing, Milton made several bizarre statements. He claimed that his resignation from Nikola was not a result of the fraud allegations but because...