Nikola’s Fallen Founder Has Giant Utah Ranch to Wait for Trial
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If you’re going to have to wait months for your trial on securities fraud, doing so in a 2,700-acre ranch near Utah’s Uinta Mountains, alongside an idyllic winding river wouldn’t be so bad.
Nikola Corp. founder and former executive chairman Trevor Milton has promised to reside in Utah as he awaits trial on charges that he misled investors about the company, lawyers said in a Manhattan court hearing Thursday. A judge freed Milton, who pleaded not guilty to the charges, on $100 million bail secured by two properties he owns in Utah. He also promised to limit his travel to specific areas and not to contact investors, other than ones with whom he has a personal relationship.