"Nikola Founder Trevor Milton Faces Potential 11-Year Prison Sentence for Fraud"

Trevor Milton, the founder of Nikola Corp., is set to be sentenced on Monday for three charges related to defrauding investors of the electric- and hydrogen-powered truck maker. Milton was found guilty of two counts of wire fraud and one count of securities fraud in October 2022. Prosecutors have recommended an 11-year prison sentence, while Milton faces a maximum of 60 years. The case draws comparisons to Elizabeth Holmes, the disgraced founder of Theranos, who was sentenced to over 11 years in prison for defrauding investors. Milton argues that Nikola is still a real business, unlike Theranos. Since Milton's resignation, Nikola's shares have plummeted, and the company has struggled to retain executives.