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US charges Nikola founder Trevor Milton with lying to investors Reuters/New York Reuters The billionaire, who stepped down as the company s CEO last year, was criminally charged on Thursday. Trevor Milton, the billionaire founder and former chief executive of Nikola Corp, was criminally charged on Thursday with defrauding investors by lying to them about the electric- and hydrogen-powered truck maker. Milton, 39, pleaded not guilty at a hearing in Manhattan federal court to two counts of securities fraud and one count of wire fraud over statements he made from November 2019 to September 2020 about Nikola s products and technology. Authorities said Milton relied on a public relations blitz of social media posts as well as TV and podcast interviews to drive up Nikola s stock price, become one of the world s 100 richest people and elevate his stature as an entrepreneur.

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