Nikola Corp founder Trevor Milton on Friday was convicted by a U.S. jury of fraud over allegations he lied to investors about the electric vehicle company's technology.
investors about the electric- and hydrogen-powered truck maker's technology starting in November 2019.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.in July 2021. He left Nikola in September 2020 after a report by short seller Hindenburg Research called the company a "fraud.
They said Milton's improper statements included that Nikola built an electric- and hydrogen-powered "Badger" pickup from the "ground up," developed batteries in-house that he knew it was purchasing elsewhere and had early success in creating a "Nikola One" semi-truck he knew did not work.
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