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Nikola founder Trevor Milton was placed on blast by prosecutors in a New York courtroom once they known as him a “con man” whereas urging jurors to convict him for mendacity about the corporate’s standing so as to defraud buyers.
“Trevor Milton is a con man,” Assistant U.S. Lawyer Jordan Estes mentioned. “His lies might have been on social media, however his was an old style fraud.”
Reuters says this occurred throughout closing arguments. Prosecutors say the 40-year-old deceived buyers concerning the EV and hydrogen-powered truck maker’s expertise as early as November 2019. He reportedly left the corporate rather less than a 12 months later after the corporate was known as a “fraud” by an funding firm.
Assistant U.S. Lawyer Jordan Estes recapped proof from the trial that started final month, together with testimony from particular person retail buyers who prosecutors have mentioned Milton focused in podcasts, interviews and social media.
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Milton’s attorneys have mentioned he believed in his imaginative and prescient for the corporate and that prosecutors distorted his statements about Nikola’s plans to shake up the automotive business.
In accordance with Automotive Information, Milton is charged with two counts of securities fraud in addition to two counts of wire fraud. If convicted, he faces years in jail.
Milton’s attorneys are calling the case a “prosecution by distortion,” saying he by no means really meant to deceive potential buyers.
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