Nikola Founder Being Charged With Fraud For Ripping Off With Millions

Nikola Founder Being Charged With Fraud For Ripping Off With Millions

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It was known by NY state feds that the founder of the electric truck manufacturer, Nikola, has charges on accounts of fraud. Trevor Milton knows there’s an indictment as early as today. The Nikola Man is under fire for the abuse of power while defrauding investors.

According to the U.S. District Court for the Southern District of New York, “Milton sold a version of Nikola not as it was – an early-stage company with a novel idea to commercialize yet-to-be proven products and technology – but rather as a trail-blazing company that had already achieved many groundbreaking and game-changing milestones.” This doesn’t make trucks look good if this is the type of leadership running the show.

This deception was evident as he coerced multiple truck investors into buying the idea. This, in turn, inflated and maintained the stock price Nikola had so long been able to maintain. This would give him millions of dollars in personal benefits.

Nikola Has A Dim Future

This indictment arrives not long after admission by Nikola themselves. They’ve been misleading investors for the longest time. From 2016 to 2020, they’ve been in it deep. But as of last year, Trevor Milton would resign from the truck-making company. Nikola has since been cooperating “with the government throughout the course of its inquiry.”

Nikola and their first prototype of a semi truck claim to be driven on their own power source. Thanks to the Internet, there was evidence showing that the truck was simply rolling downhill. Therefore, by the force of gravity, moved forward on neutral.

The prosecutors continue: “In presenting his version of Nikola to investors, Milton repeatedly made false and misleading statements about core aspects of Nikola’s [trucks], technological advancements, and commercial prospects.”

It makes you wonder if you can really trust the integrity. These companies are putting out core beliefs of all sorts but does it change anything? This is certainly an upsetting realization for the entire trucking community. Certainly the main point is to persevere and learn from those who have no idea how to run a company. Is that so hard? Is that impossible? I don’t believe so.

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