Category: Nikola
Nikola founder Trevor Milton indicted on three counts of fraud
Trevor Milton, the fast-talking showman founder of Nikola and the electric truck startup’s former CEO and executive chairman, has been charged with three counts of fraud. Milton “engaged in a fraudulent scheme to deceive retail investors” for his own personal benefit, according to the federal indictment unsealed by U.S. Attorney’s…
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Nikola’s stock crashes after announcing cancelation of contract with Republic Services for 2,500 garbage trucks
The undoing of Nikola continues. Today, the company announced the termination of its contract with Republic Services for 2,500 garbage trucks. Announced back in August, the deal had Nikola building garbage trucks in 2023 with on-road testing scheduled for 2024. This is the latest deal to unravel for Nikola as…
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Nikola founder resigns following SEC probe into electric truck business
Following a fraud accusation by a short firm and potential probe by the US Securities Exchange Commission (SEC), Nikola founder Trevor Milton is stepping down as executive chairman. “Nikola is truly in my blood and always will be, and the focus shoul… Source
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The SEC is reportedly looking into Nikola’s electric truck promises
Nikola is defending itself against claims that its plans to build electric big rigs are an “intricate fraud.” The charges came a few days ago in a report published by short-selling firm Hindenburg Research, which accused the publicly traded company’s… Source
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