United States v. Trevor Milton, Southern District of New York (Dec. 14, 2023) — Press Release
raw: Notice To Victims Of The Sentencing Of Former Nikola Motors CEO Trevor Milton
Notice To Victims Of The Sentencing Of Former Nikola Motors CEO Trevor Milton (S.D.N.Y. Dec. 14, 2023)
Trevor Milton, former Nikola Motors CEO, was convicted of securities and wire fraud for misleading investors about the company's technology and product development, and faces up to 60 years in prison.
Trevor Milton, former CEO of Nikola Motors, was convicted of securities and wire fraud in October 2022 for misleading investors about the company's technology and product development between March and September 2020. The fraud involved false claims about Nikola's hydrogen-powered trucks and proprietary technology to inflate stock prices, causing significant financial harm to investors in Nikola and VectoIQ stock. Milton faces a maximum prison sentence of 60 years and is scheduled to be sentenced on December 18, 2023.
Trevor Milton, the founder and former CEO of Nikola Motors, was convicted by a jury in October 2022 of securities fraud and wire fraud for orchestrating a scheme to mislead investors regarding the development of the company's products and technology. The fraud involved deceptive claims made to those trading Nikola Corporation or VectoIQ stock between March and September 2020, including false claims about Nikola's hydrogen-powered trucks and proprietary technology to inflate stock prices. This caused significant financial harm to investors in Nikola and VectoIQ stock. The U.S. Attorney's Office for the Southern District of New York is notifying victims of Milton's upcoming sentencing on December 18, 2023, where he faces up to 60 years in prison. Victims who purchased or sold shares during the relevant period are encouraged to submit victim impact statements via [email protected]. The case is part of a broader enforcement action targeting corporate deception in the clean energy sector. Milton's sentencing will be determined by the court and is scheduled to take place before the Honorable Edgardo Ramos in the Southern District of New York.
Extracted insights
- person honorable edgardo ramos
- company nikola corporation
- scheme_term securities fraud and wire fraud
- person trevor milton
- agency u.s. attorney's office, southern district of new york
- Trevor Milton was convicted of securities fraud and wire fraud
- Trevor Milton is founder and former CEO of Nikola Corporation
- Trevor Milton faces maximum term of 60 years in prison
- Trevor Milton has sentencing scheduled for December 18, 2023 at 11:00 a.m.
- Trevor Milton defrauded investors about development of products and technology by Nikola
- Nikola Corporation has ticker symbol NKLA
- VectoIQ has ticker symbols VTIQU, VTIQ, and VTIQW
- U.S. Attorney's Office, Southern District of New York is providing notice to individuals and entities that bought and sold stock of Nikola Corporation or VectoIQ between March and September 2020
- Sentencing of Trevor Milton is before Honorable Edgardo Ramos
Press Release Notice To Victims Of The Sentencing Of Former Nikola Motors CEO Trevor Milton Thursday, December 14, 2023 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York The U.S. Attorney’s Office for the Southern District of New York is providing notice to individuals and entities that bought and sold stock of Nikola Corporation (ticker NKLA) or VectoIQ (tickers VTIQU, VTIQ, and VTIQW) between March and September 2020 of the upcoming sentencing of TREVOR MILTON, the founder and former CEO of Nikola. In October 2022, MILTON was convicted by a jury of securities fraud and wire fraud in connection with his scheme to defraud and mislead investors about the development of products and technology by Nikola. The sentencing is scheduled for December 18, 2023, at 11:00 a.m. before the Honorable Edgardo Ramos in Courtroom 619 at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007. The proceeding is open to the public. MILTON faces a maximum term of 60 years in prison, and the sentence will be determined by the court. If you believe you are a victim of TREVOR MILTON and have questions about the sentencing or wish to submit a victim impact statement, please email: [email protected]. Contact [email protected] Updated December 14, 2023 Topic Securities, Commodities, & Investment Fraud Component USAO - New York, Southern Press Release Number: 23-430
Press Release Notice To Victims Of The Sentencing Of Former Nikola Motors CEO Trevor Milton Thursday, December 14, 2023 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York The U.S. Attorney’s Office for the Southern District of New York is providing notice to individuals and entities that bought and sold stock of Nikola Corporation (ticker NKLA) or VectoIQ (tickers VTIQU, VTIQ, and VTIQW) between March and September 2020 of the upcoming sentencing of TREVOR MILTON, the founder and former CEO of Nikola. In October 2022, MILTON was convicted by a jury of securities fraud and wire fraud in connection with his scheme to defraud and mislead investors about the development of products and technology by Nikola. The sentencing is scheduled for December 18, 2023, at 11:00 a.m. before the Honorable Edgardo Ramos in Courtroom 619 at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007. The proceeding is open to the public. MILTON faces a maximum term of 60 years in prison, and the sentence will be determined by the court. If you believe you are a victim of TREVOR MILTON and have questions about the sentencing or wish to submit a victim impact statement, please email: [email protected]. Contact [email protected] Updated December 14, 2023 Topic Securities, Commodities, & Investment Fraud Component USAO - New York, Southern Press Release Number: 23-430