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Nikola Investor Lost $160,000 on Milton’s Hype, He Tells Jury
- US tries to show Milton duped investors on semi, Badger pickup
- Trial turns on whether statements were false and consequential
Nikola founder Trevor Milton exits court in New York, on Sept. 12.
Photographer: Stephen Yang/BloombergThis article is for subscribers only.
Nikola Corp.’s founder cost a San Diego man about $160,000 trading the company’s hyped shares, he told the jury in Trevor Milton’s criminal fraud trial.
Joseph Ryan was called to the witness stand Thursday by federal prosecutors, who allege that Milton misled investors by exaggerating the electric truck maker’s progress toward introducing vehicles for sale and by lying about Nikola’s technology and partnerships.