Nikola Founder Faces 11-Year Prison Sentence For Defrauding Investors

Federal prosecutors stated that Nikola founder Trevor Milton will likely receive an 11-year prison sentence for defrauding investors, Reuters reports. Milton was convicted last year on two counts of wire fraud and a count of security fraud. During the trial, prosecutors called Milton a “con man” and argued that he lied about the electric and hydrogen-powered truck manufacturer when he led the company.

Milton purposely made comments about the company, especially the automaker’s dead marquee pickup truck, to mislead investors. While the Badger pickup was unveiled in February 2020, the truck was described internally as “vaporware” despite Milton continually stating it was done. He also claimed on social media that the Badger would be fitted with a drinking fountain.

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