Legal
Nikola Founder Trevor Milton Sentenced to Four Years for Fraud
- Milton was convicted in 2022 of lying about e-truck progress
- Prosecutors had sought a sentence of around 11 years in prison
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Nikola Corp. founder and former Chief Executive Officer Trevor Milton was ordered to spend four years behind bars for lying to shareholders about the electric-truck maker’s progress.
Milton, 41, was sentenced Monday by US District Judge Edgardo Ramos in Manhattan, more than a year after a jury convicted him of securities fraud and wire fraud for misrepresenting key details about the development of Nikola’s products and technology. He was also ordered to pay a $1 million fine.