Nikola founder convicted of $1B fraud over social media misrepresentations
JURIST
OCTOBER 15, 2022
Trevor Milton, founder of automotive manufacturer Nikola Corp., on Friday was convicted of fraud following his misrepresentations and lies regarding the company’s technology. Milton made multiple representations regarding the technologies of his zero-emissions trucking business. Alongside other issues, a jury found that he lied about the costs of using hydrogen fuel as energy which he claimed to have been producing at a quarter of market price.
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