TECH - Nikola Founder In Hot Water: Prosecutors Demand 11 Years Jail Time For Investor Fraud | Benzinga
Prosecutors are reportedly seeking an 11-year prison sentence for Trevor Milton, the convicted founder of Nikola Corp (NASDAQ:NKLA).
What Happened: Milton is set to be sentenced on Dec. 18, and prosecutors are advocating for a substantial sentence in line with the recommendation from the probation department, as reported by Reuters. The probation department has proposed the jail term for Milton, accusing him of defrauding investors of the EV truck maker with false claims.
In October 2022, a federal jury in Manhattan found Milton guilty of two counts of wire fraud and one count of securities fraud. The prosecution portrayed Milton ...