Refer to the news network on December 22According to Reuters on December 18, Trevor Milton, the founder of Nikola, an American electric and hydrogen-powered truck manufacturer, was sentenced to four years in prison on the 18th. Last year, a jury found him lying to investors about the company's technology.
Federal prosecutors in Manhattan said Milton misled investors by saying that Nikola had built a pickup truck "from scratch," knowing that Nikola was buying batteries, but also that his company had developed its ownHe also claimed that his company had succeeded in building a Nikolai-1 semi-trailer in the early days, when in fact he knew that it would not work.
At a hearing in federal court in Manhattan, U.S. District Judge Edgar Ramos told Milton after the verdict was handed down that the judge knew the defendant's statements about Nikola were false.
Prosecutors last week urged Mr. Ramos, 41, to sentence Mr. Milton, 41, to about 11 years in prison, in line with the sentence imposed last year on Elizabeth Holmes, the founder of Silanos. Holmes was sentenced for deceiving investors into investing in her blood test startup.
At the hearing before the verdict was announced, prosecutor Matthew Podolski said: "The message must be conveyed that whether you are an entrepreneur, a startup founder or a business executive, you have to be honest when you talk about your company to the outside world." ”
The judge agreed that Holmes was different from Milton because the defective technology products marketed by Celanos directly affected people's health.
But Ramos disagrees with Milton's claim that his speech was full of enthusiasm and had no intention of harming investors. "The law doesn't let go of [illegal acts] because of good intentions," Ramos said. ”
In October 2022, Milton was convicted of one count of fraud and two counts of wire fraud, and the other charge of fraud against Milton was acquitted.
In 2021, Nikolai agreed to pay 1$2.5 billion to settle a civil lawsuit filed against it by the U.S. ** Exchange Commission.
Nikola's share price is currently less than $1, compared to more than $60 at its peak in June 2020.
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