Trevor Milton

New York federal prosecutors charged Trevor Milton, the founder of the electric truck company Nikola, with engaging in an audacious scheme to defraud investors, according to an indictment unsealed Thursday July 29 2021. He was convicted in October 2022 on one count of securities fraud and two counts of wire fraud, and acquitted on an additional securities fraud count. He was sentenced to four years in prison in December 2023, He had in 2021 also agreed to pay $125 million to settle civil charges brought by the U.S. Securities and Exchange Commission.