A federal jury convicted Milton of mendacity about Nikola’s capabilities, together with an assertion that it had constructed its personal electrical truck, the Nikola One, from the “floor up.” He was additionally accused of staging a video that purportedly confirmed its Nikola One semi driving beneath its personal energy when it was really rolling down a hill.
Milton was sentenced to 4 years in jail, however remained out on bond whereas he appealed his conviction. “I’m free,” Milton stated in a video posted on X. “The prosecutors can now not damage me.”
Based in 2015, Nikola staked out a novel place within the EV area by claiming it could make zero-emission massive rigs utilizing hydrogen gas cell know-how. However questions emerged in regards to the firm’s claims after short-selling agency Hindenburg Analysis printed a bombshell report accusing Nikola of fraud, together with the video displaying the truck rolling down a hill. The report set off a sequence response that resulted in Milton’s stepping down as board chair and CEO and his eventual arrest.
Along with staging the video, Milton was accused of falsely claiming to supply his personal hydrogen fuels at below-market charges and acquiring “billions and billions and billions and billions” of {dollars}’ price of dedicated truck orders. Earlier this 12 months, Nikola filed for Chapter 11 chapter.
Milton isn’t the primary controversial determine for the transportation world to obtain a pardon from Trump. Throughout his first time period, Trump pardoned Anthony Levandowski, who was convicted of stealing commerce secrets and techniques from Google’s self-driving automobile division.