All articles tagged with #trevor milton
The SEC dropped civil cases against Trevor Milton, the founder of Nikola, after Trump pardoned him, erasing a $660 million restitution order related to his fraud conviction, raising questions about the timing and motives behind the pardon.
The SEC has dropped civil enforcement cases seeking hundreds of millions of dollars from three individuals—Devon Archer, Trevor Milton, and Carlos Watson—who were previously granted clemency by President Trump for white-collar fraud crimes, sparing them from penalties and prison time.
Disgraced Nikola Corp founder Trevor Milton plans to nominate a slate of candidates, including "Diesel Brothers" star Dave Sparks, for the company's board, despite facing a prison sentence for fraud. Nikola strongly opposes the nominees, citing their lack of public company experience and expertise in zero-emissions trucking and energy infrastructure. Milton, who remains one of Nikola's biggest shareholders, has clashed with the company's current management and previously called for leadership changes.
Nikola Corporation's Board of Directors has rejected a slate of five dissident nominees proposed by former Executive Chairman Trevor Milton for election as directors at the 2024 Annual Meeting of Stockholders. The board cited the lack of public company experience and relevant industry expertise in the proposed nominees. The company is seeking to recover unpaid judgments from Mr. Milton and emphasized that its current board members possess the necessary skills and experience for Nikola's success in the zero-emissions trucking and energy infrastructure business. Nikola intends to file its own director nominees with the SEC and urges stockholders to carefully review the proxy statement when available.
Trevor Milton, the founder and former CEO of Nikola Corp., has been sentenced to four years in prison for securities fraud and wire fraud. Milton was convicted for lying to shareholders about the progress of the electric-truck maker and misrepresenting key details about its products and technology. He was also ordered to pay a $1 million fine. Prosecutors had sought an 11-year sentence, arguing that a lengthy term of incarceration was necessary to punish Milton and deter other corporate executives from similar misconduct. Milton plans to appeal the verdict and remains free on bail.
Trevor Milton, the founder of Nikola Corp., has been sentenced to four years in prison and ordered to pay a $1 million fine for exaggerating claims about his company's production of zero-emission trucks, causing investors to lose money. Milton was convicted of fraud charges after falsely claiming to have built a revolutionary truck and doctoring videos to hide flaws. Despite his tearful plea for leniency, the judge believed the jury got it right and emphasized the material falsehoods Milton spread through social media.
1. The stock market continues its rally, with the S&P 500 up 3.8% for December. 2. The US military, along with other nations, will protect commercial ships in the Red Sea from Iranian-backed Houthi militants. 3. Apple halts sales of Apple Watch Series 9 and Apple Watch Ultra 2 due to an intellectual property disagreement. 4. Trevor Milton, founder of Nikola, is sentenced to four years in prison and fined $1 million for federal fraud crimes. 5. Jonathan Majors is dropped by Marvel Studios after being convicted of assault and harassment, potentially leading to a new direction for the Marvel Cinematic Universe.
Trevor Milton, the founder of electric truck maker Nikola, has been sentenced to four years in prison for lying to investors about the company's technology. Milton misled investors by making false statements about Nikola's products and capabilities. The judge acknowledged that Milton's case was different from Elizabeth Holmes' Theranos case, but rejected his explanation that he spoke with enthusiasm and did not intend to harm investors. Milton was convicted on one count of securities fraud and two counts of wire fraud. Nikola previously settled civil charges with the SEC for $125 million.
Trevor Milton, the founder of Nikola, has been sentenced to four years in federal prison for fraud. Milton was convicted by a jury for spreading lies about the hydrogen-electric vehicle company he founded. Prosecutors had requested an 11-year sentence, but the judge ruled for a shorter term. Milton's fraudulent activities included making false representations about Nikola's hydrogen fuel cell prototype truck and deceiving investors about the company's capabilities and technology. Nikola's stock fell over 9% following news of Milton's sentencing.
Trevor Milton, founder of electric vehicle company Nikola, has been sentenced to four years in prison for fraudulent claims about his company. Prosecutors revealed that Milton's vehicles were never operable, and he deceived retail investors, resulting in losses of over $660 million. Milton was convicted of wire fraud and securities fraud and will also pay a $1 million fine, forfeit a ranch purchased with ill-gotten gains, and provide restitution to victims.
Trevor Milton, the founder of Nikola, has been sentenced to four years in prison and ordered to pay a $1 million fine after being found guilty of misleading investors about the company's technology. Milton was accused of lying about Nikola's capabilities and staging a video that falsely showed its electric truck driving under its own power. The fallout from these allegations led to General Motors backing out of an equity deal with Nikola, and the company has since scaled down its ambitions.
Trevor Milton, the founder and former CEO of electric truck startup Nikola, has been sentenced to four years in prison for securities fraud. Milton was convicted of lying to investors about the development of Nikola's electric trucks to inflate the company's stock price. The sentencing comes after accusations of fraud and canceled contracts caused Nikola's stock to plummet. Milton sobbed as he pleaded for leniency, claiming he stepped down from the CEO position to support his sick wife. Prosecutors recommended an 11-year sentence, but Milton faced a maximum term of 60 years.
Trevor Milton, the founder of electric-truck company Nikola, has been sentenced to four years in prison for defrauding investors. Milton, who was convicted on multiple fraud charges, was found to have lied to investors about various aspects of Nikola.
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.
Trevor Milton, the founder and former CEO of electric truck company Nikola, is expected to receive a significant prison sentence after being found guilty of securities fraud and wire fraud. Prosecutors have asked for an 11-year prison term and a $5 million fine, accusing Milton of making false claims about Nikola's technology and orders to inflate the company's stock value. This case highlights the financial challenges faced by electric vehicle start-ups, many of which attracted billions of dollars in investment without generating profits or delivering on their promises. Investors in these companies have suffered enormous losses, while short sellers have profited.