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IPFS News Link • Investigations

Former Nikola CEO Milton Charged With Three Counts Of Fraud By DOJ, SEC Files Parallel Charges

• Zero Hedge

That's because multiple sources are reporting that the U.S. Attorney's Office in Manhattan is charging Milton "in connection with their investigation into allegations of fraud and for making false and misleading statements to investors," according to Tom Winter of NBC.

CNBC has reported that Milton has been charged with "three counts of fraud" and making false claims regarding "nearly all aspects of the business".

"Prosecutors say that when Milton unveiled their tractor trailer truck it had to be plugged into the wall, the headlamps were activated by remote by a staffer, and air had to be pumped in because there was a slow leak in the air lines of the truck," Winter continued.

"And yes, prosecutors do say part of Milton's conduct was video of the Nikola truck in the Super Bowl ad was not in fact of a working truck but was towed to the top of a hill. Breaks were released and it rolled downhill."