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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNikola electric-truck prototypes were fake
https://www.marketwatch.com/story/nikola-electric-truck-prototypes-were-powered-by-hidden-wall-sockets-towed-into-position-and-rolled-down-hills-prosecutors-say-11627572394Nikola electric-truck prototypes were powered by hidden wall sockets, towed into position and rolled down hills, prosecutors say
Prosecutors said the prototypes didnt function and were Frankenstein monsters cobbled together from parts from other vehicles
Last Updated: July 29, 2021 at 4:24 p.m. ET
By Lukas I. Alpert
Prosecutors alleged Trevor Milton repeatedly claimed had had developed working prototypes of his Nikola trucks, but that no such vehicle ever existed. (Handout Image from Nikola Corp.)
The founder of the much-hyped electric truck manufacturer Nikola Corp. NKLA, -15.22% has been charged with lying to investors about the supposed technological breakthroughs the company had achieved in order to drive up its stock price, federal prosecutors announced Thursday.
Trevor Milton, 39, is accused of claiming that his company had successfully manufactured working prototypes of electric trucks and pickup trucks that would turn the industry on its head, when he had, in fact, never built anything.
At the bottom, this a very simple case: Milton told lies to generate popular demand for his stock, said Audrey Strauss,, the U.S. Attorney for the Southern District of New York.
Prosecutors said Milton was taken into custody Thursday in Manhattan and was later released on a $100 million bond. His attorney, Marc Mukasey, said in an email: Trevor Milton is innocent. Hes been wrongfully accused after a faulty and incomplete investigation. He will be exonerated after trial.
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Nikola electric-truck prototypes were fake (Original Post)
dalton99a
Jul 2021
OP
RockRaven
(14,784 posts)1. "Guys, that's not what the saying 'fake it til you make it' means..."
Hassin Bin Sober
(26,273 posts)7. It's exactly what it means.
Miguelito Loveless
(4,438 posts)2. It is interesting that
the darling of the anti-Tesla faction of the investor community was guilty of all the very things they accused Tesla of.
Projection is a helluva drug.
House of Roberts
(5,122 posts)3. Somebody, somewhere,
has shorted the hell out of this stock.
Boxerfan
(2,531 posts)4. He just copied "The Dale"
dalton99a
(81,091 posts)5. +1. Jerry Dean Michael aka Geraldine Elizabeth Carmichael: