CNBC: A federal grand jury charged Nikola founder Trevor Milton with three counts of criminal fraud for lying about “nearly all aspects of the business” to bolster stock sales of the electric vehicle start-up, according to an indictment unsealed Thursday.
The U.S. Attorney’s Office in Manhattan accused the 39-year-old billionaire, who resigned as chairman in September, with two counts of securities fraud, including making false statements about the company, and wire fraud.
The Securities and Exchange Commission also filed civil securities fraud charges against Milton on Thursday. The SEC asked the U.S. District Court of the Southern District of New York to permanently bar him from acting as an officer at a company that issues securities, to disgorge all ill-gotten gains and pay a fine. more