4 years in prison for Nikola Corp founder for defrauding investors on claims of zero-emission trucks

The founder of Nikola Corp. has been sentenced to four years in prison for his conviction for exaggerating claims about his company's production of zero-emission 18-wheel trucks. Trevor Milton was sentenced Monday in a Manhattan federal court, where the judge also ordered him to pay a $1 million fine. Milton fought through tears as he gave a rambling statement before sentencing, portraying some of his actions at Nikola as heroic. He claimed big companies in the industry have followed his lead in trying to create environmentally cleaner vehicles. Milton resigned in 2020 after reports of fraud sent Nikola’s stock prices into a tailspin, leaving investors with heavy losses.