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Founder of Electric Truck Maker Nikola Is Convicted of Fraud

15 Oct 2022 | Abstracted from NY Times

"Trevor Milton was accused of boasting about nonexistent technology to inflate the stock price of [electric truck maker] Nikola...

"The case provided a lesson in the hazards of investing in fledgling "pre-revenue" electric vehicle makers that have ideas but limited or nonexistent sales.

"In about six months during 2020..Milton spent more than $80 million...on.."a Gulfstream jet and a multimillion-dollar home in the Turks and Caicos Islands"



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