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Nikola Founder’s Fraud Trial Over Electric-Truck Claims | Tech News Briefing Podcast | WSJ ctm magazine



Trevor Milton, the founder of electric-truck company Nikola, is facing fraud charges in a New York court. Prosecutors allege he lied to investors about the company’s technology, but his lawyers call it a case of a founder voicing their hopes for the company. But the trial could have ramifications beyond Nikola and its founder.

WSJ reporter Ben Foldy joins host Zoe Thomas to lay out the issues and why it could matter for startups looking to go public.

https://www.wsj.com/articles/nikola-founder-faces-securities-fraud-trial-over-promises-about-electric-trucks-11662894001?st=fkz5r5hpi2ptd89&reflink=desktopwebshare_permalink

https://www.wsj.com/articles/dueling-portraits-of-nikola-founder-trevor-milton-presented-at-securities-fraud-trial-11663092466?st=l09i2nohgmqkz8j&reflink=desktopwebshare_permalink

Photo: Massimo Pinca / Reuters

For more episodes of WSJ’s Tech News Briefing: https://link.chtbl.com/WSJTechNewsBriefing
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25 Comments

  • spark lee on September 20, 2022

    any update about the trial? is Milton guilty or not?

  • Mika Filtenborg on September 20, 2022

    Trevor : the best Badger pick-up , is NO Badger

  • Mika Filtenborg on September 20, 2022

    Trevor Fraud Meltdown is a real REAL professional liar and scammer 🤣

  • Mika Filtenborg on September 20, 2022

    Its all Downhill from here, Trevor Fraud Meltdown Milton 🤣🤣

  • GTGamerXoXo on September 20, 2022

    One day Musk will be brought to justice too!

  • Blake Jackson on September 20, 2022

    Quite informative

  • Diana Hill on September 20, 2022

    Interesting and informative. Thank you.

  • Bruce Bat on September 20, 2022

    The solution is simple, lock him up and make him return all the money to investors!!

  • HydrogenFuelTechnologies on September 20, 2022

    I just don't see this lawsuit as anything but a public soap opera. A hydrogen hit piece to stall the hydrogen tech from public market for as long as possible.

    The truck was real, always was. Milton could have easily got the hydrogen fcev tech from German/ American aerospace, defense or private commercial industrial sector where the hydrogen tech has already been for 60+ years in full working order.

    It makes zero sense he would have had to "roll" a truck down a hill unless it had to do with ip or patent rights to the fuel cell tech.

    Everything Milton said was a embellishment at the time just like Musk does with tesla but as you can clearly see unless you've been under a rock and just have biased blinders on is that Nikola is executing extremely well now, pulling all the propulsion tech in house batteries and hydrogen. Building trucks, delivering and building out the hydrogen fueling station infrastructure. Milton still has a ton of ownership and will profit billions in the next few years as Nikola continues to execute. The new ceo is gonna be HUGE in terms of where the company is headed. The hydrogen tech is worth TRILLIONS and its a technology that was NEVER allowed to public markets for going on 100 years now.

    I just don't see much of anything happening to Milton, it's a public soap opera.

    As far as hyliion goes. Knowing what I know about the hydrogen tech. The karno generator tech is gonna be a multi trillion dollar technology by itself that can be used in many industries and applications. Electricity generation, heater technology and sophisticated forms of it is exactly how synthetic liquid hydrocarbon fuels are made. Hyliion could become an actual fuel refinery tech company too with the karno tech.

    There is also a weird quantum nuclear side to the karno technology too that Healy didn't or won't mention.

    I don't care who wins but understand this is more of a technology war than it is investor fraud. Everything Milton said the technology and company is capable of and looking like it's gonna be. Seems again more of a orchestrated scandal than anything serious.

  • Aurobindo Ghosh on September 20, 2022

    when he brought horse carriage on stage then you should have known that not batteries but nature is the answer for energy needs

  • Veridian on September 20, 2022

    Big Corporations would give billions of cash to people like him without any due diligence, but my banks would ask me mountains of paperwork just to get a loan LOL

  • TheBOlufsen on September 20, 2022

    Have a look at Elon Musk too

  • Das Wars on September 20, 2022

    Put that fraud into jail. For life!

  • sky high on September 20, 2022

    He benefited so much for lying. He is still a billionaire, shame shame.

  • sky high on September 20, 2022

    He benefited so much for lying. He is still a billionaire, shame shame.

  • SYAM KUMAR KATURI on September 20, 2022

    What happens if gold and oil ships sinks

  • Perceptive on September 20, 2022

    The future starts here https://youtu.be/s8xYjEgMHh0

  • Chad on September 20, 2022

    You have to remember that this time around the pump we had was not as big as other times. So the drop may not be as bad this time around too. That being said, Trading went smooth for me as I was able to raise over 18BTC when I started at 7 BTC in just few weeks implementing trades with signals and insights from Mrs. Alice Lily. I would advise y'all to trade your asset rather than hodl for a future you aren't sure about.

  • Carmie Thompson on September 20, 2022

    What are EV's good for? To scam cretins w/ money burning a hole in their pocket that believe this climate change hoax.
    Photosynthesis is the chemical process that converts CO2 to food for Trees/Plants. Question: At what point or range do we curtail emissions & not starve the Trees/Plants? Scientist's have a clue but not Enviro-Mentalists. They just want money to throw at the problem. Why don't they define the problem & prove, verify & validate w/ the Scientific Method. They'll say "That'll take to much time." How do they know? They don't but it makes them 'feel' good, that's what's important.

  • Happy Atheists! on September 20, 2022

    Not guilty 😨 wat!!.so you saying the system is corrupt 😨 so basically money can buy anything 😨…

    But not happiness,bad karma is coming.

  • Happy Atheists! on September 20, 2022

    Fraud monster,trevor!!

  • black wall on September 20, 2022

    I wonder who would testify against Black rock? That is an awful organization.

  • Chad on September 20, 2022

    I really appreciate your effort for us, regardless of the economic situation, you keep doing more. I feel for our country 🇱🇷high income, people now suffering to survive, I will forever appreciate you Mrs. Alice Lily. Imagine investing $2000 & receiving profit of $11,600 within few days, investing is indeed a great opportunity.

  • Kristen Sorensen on September 20, 2022

    #194👍😤😡🥂IPO greed run amok🤷

  • The Professional Weekender on September 20, 2022

    how is Nikola Motors still in business when their funding were through fraud?

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