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Billionaire founder of electric truck firm Nikola is found GUILTY of fraud after inflating value of firm to $3.3bn - briefly more than Ford - with litany of lies including rolling truck downhill to pretend it worked
- Nikola Corp. founder Trevor Milton was convicted of charges he deceived investors with exaggerated claims about his company
- Milton championed that his company was producing zero-emission, 18-wheel trucks that could run on cheap hydrogen
- Prosecutors described Milton as a con man who lied to inflate his company's value to $3.3 billion and created promotion videos for non-existent trucks
- They also said Milton sought first-time investors who he could easily dupe into believing his outlandish claims
- Milton was freed on a $100 million bond, with a sentencing hearing set for 2023
Posted by: Skidmark 2022-10-15 |
