Fraud allegations that the founder of Nicola spread “false information” to become one of the richest in the world

Published:

30 July 2021 16:20 GMT

Trevor Milton was arrested but was released on $ 100 million bail after appearing in court.

Trevor Milton, founder and former CEO of American electric truck and truck manufacturer Nicola Corporation, was arrested Thursday and appeared in New York court where he pleaded not guilty to three counts of fraud. Reports Reuters.

Sues the millionaire with two lawsuits Bond fraud And another electronic fraud. The executive has been accused of publishing false and misleading reports between November 2019 and September 2020 regarding the development of Nicola’s products and technology. That would have been the purpose of the reports Increase the value of the shares Became one of the 100 richest people in the company and in the world.

The U.S. Securities and Exchange Commission also filed other allegations against Milton for spreading.Misinformation and misinformation“Trevor Milton, who I quit As CEO and board member of Nicola, he was acquitted in September 2020 after appearing in court amid allegations of fraud. 100 million bail Dollars.

Nicola Corporation has stated that the court proceedings are against its former CEO and not against the company. In addition, he stressed the company Has cooperated with investigations With the authorities. As part of that, Milton dismissed allegations of security fraud and confirmed that the case responds to “The” Government initiatives All U.S. executives should be stunned by “so” for blaming legitimate business behavior. “