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Nikola’s Indicted Ex-Chairman Milton Sells $77 Million of Stock
- Milton indirectly owned shares through an LLC and his spouse
- Truckmaker’s founder has said he plans to remain top holder
Trevor Milton exits federal court in New York, U.S., on July 29.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Nikola Corp. founder and former chairman Trevor Milton raised about $77 million selling shares in the electric-truck maker, days after pleading not guilty to charges he misled investors to hype the stock.
The disposals were disclosed in a filing late Friday with the U.S. Securities and Exchange Commission. Milton indirectly owned the shares through M&M Residual LLC -- a Nevada company he wholly owns -- and his spouse, according to the filing.