Nikola founder Trevor MiltonPhoto: Nikola
A US court sentenced Trevor Milton, the founder and former CEO of the electric heavy-duty truck manufacturer Nikola, to 4 years in prison for defrauding investors.
Prosecutors asked for Milton to be sentenced to up to 11 years in prison, arguing that a long term would severely punish Milton and also deter other drivers from following his example, according to Bloomberg.
Milton asked the court for a suspended sentence, saying it was not intentional to mislead investors. “I wasn’t a very experienced CEO,” he said.
A judge allowed Milton to remain free on bail while he appeals his conviction. But it should be emphasized that this is not the first time that Milton has been accused.
2023-12-19 09:08:00
#Nikolas #founder #sentenced #prison #defrauding #investors
