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Nikola founder Trevor Milton faces new federal fraud charge

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CEO and founder of U.S. Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019.

Massimo Pinca | Reuters

The founder of electric truck start-up Nikola Motors, already under indictment for multiple counts of fraud, is facing a new charge related to buying a Utah ranch — a purchase he paid for in part with an option to buy Nikola stock.

Federal prosecutors in the Southern District of New York on Wednesday charged Trevor Milton with a new count of wire fraud, alleging he misrepresented the state of Nikola’s business to convince the seller of the Wasatch…



Source cnbc.com

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