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Trevor Milton Gets Four Years in Prison for Fraud

• gymbeaux 3y ago
  Very similar to Elizabeth Holmes/Theranos where “fake it till you make it” was abused and taken to the point of “fraud”.
  • fred_is_fred 3y ago
    As far as I know however Trevor never gave anyone incorrect cancer or HIV diagnoses. Still fraud but I consider what she did much more heinous.
    • givemeethekeys 3y ago
      The way they went about pumping their IPO / stock by getting blue-collar influencers to shill it, it gave the impression that they were taking advantage of desperate people who were trying not to miss out on the pandemic stock market recovery like they'd missed out on the post-2008 boom.
    • deleted 3y ago
      [deleted]
• givemeethekeys 3y ago
  How much of the money does he get to keep?
  • JumpCrisscross 3y ago
    Milton was "ordered to forfeit a property in Utah and ordered to pay a fine of $1 million," with restitution to be set "in a future proceeding" [1]. This is in addition to the $125 million Nikola paid "to settle charges that it defrauded investors" [2], which it "is seeking reimbursement from Milton for" [3]. [1] https://www.justice.gov/usao-sdny/pr/trevor-milton-sentenced-four-years-prison-securities-fraud-scheme https://www.justice.gov/usao-sdny/pr/trevor-milton-sentenced... [2] https://www.sec.gov/news/press-release/2021-267 https://www.sec.gov/news/press-release/2021-267 [3] https://www.reuters.com/business/nikola-corp-agrees-pay-125-mln-settle-sec-charges-defrauding-investors-2021-12-21/ https://www.reuters.com/business/nikola-corp-agrees-pay-125-...