The founder of Nikola Corp. has been sentenced to four years in prison for his conviction for exaggerating claims about his company's production of zero-emission 18-wheel trucks.
WIN-Initiative/Neleman/Getty Images(NEW YORK) Nikola founder Trevor Milton was sentenced to four years in prison Monday due to fraudulent claims about his electric vehicle company.
In court Monday, Milton portrayed himself as a generous and honest yet unsophisticated businessman who grew up milking cows, lacked a college degree and did not mean to defraud investors in his electric truck company.
"My intent was not to harm others," Milton told Judge Edgardo Ramos. "Let me have probation."
Ramos did not comply with Milton s request, sentencing him to four years in prison, a $1 million fine, forfeiture of a ranch Milton purchased with ill-gotten gains and restitution to victims.
Milton was convicted of wire fraud and securities fraud after prosecutors said he embellished the success of his company and deceived retail investors, who they said lost more than $660 million combined.
One model of the Nikola electric pickup truck called the Badger, lacked certain part