Categories: AgendaMagazine

Trevor Milton, Nikola’s founder and CEO, resigned over fraud charges

Trevor Milton, Nikola founder and CEO, fraud allegations

Trevor Milton, founder and CEO of US-based electric truck manufacturer Nikola, resigned due to fraud charges against him.

Trevor Milton, Nikola’s founder and CEO, resigned over fraud charges.

Trever Milton, founder of the US-based electric truck manufacturer Nikola, was accused of fraud in a report published recently by Hindenburg Research.

In the report; There were allegations that Milton was selling Nikola’s proprietary and confidential technologies to other companies. Following the allegations, the company’s shares lost 30 percent in value.

Trevor Milton, founder and chairman of the company, who has been the focus of controversy recently, announced his departure. Stephen Girsky, former vice president of General Motors and board member of Nikola, was appointed to the seat vacated by Milton.

According to the Securities and Exchange Commission files, Milton also gave up the $ 166 million prize in stock, depending on the company’s performance.

In addition, Milton will have to pay another $ 20 million for failing to comply with the contract.

Founded in 2014 with the goal of producing zero-emission vehicles, Nikola has been showing himself as a rival to Tesla, of which Elon Musk is CEO from the very beginning.

The company, which explains that it develops electric commercial vehicles at every opportunity, claims that the prototypes that are stated to be working do not actually have an electric motor.


Element - Mulierlife News Editor, Magazine, popular people, Researcher author.

Leave a Comment
Published by

Recent Posts

Kendra Lust prays for James Rodriguez to get well soon

Kendra Lust, a get well soon message for James Rodriguez Kendra Lust wishes James Rodriguez…

6 hours ago

Danish Instagram model (Gitte Von G) naked in the streets

Danish model Gitte Von G strolls the streets with bare boobs Gitte Von G, a…

6 hours ago

10 Trending Halloween Movies to Watch for a Scary Evening

A Little Fear, A Little Fun! We have prepared 10 important scary movies that you…

6 hours ago

Brooklyn Beckham Celebrates Anniversary With His Girlfriend

Brooklyn Beckham celebrated the anniversary of their relationship by sharing bathtub poses with his girlfriend.…

7 hours ago

Oracle deactivated Microsoft in TikTok sale

Oracle wins TikTok acquisition talks According to rumors; Oracle was the winner of the negotiations…

21 hours ago

Prince Harry and Meghan Markle’s request for court adjournment

Accepting Meghan Markle's request to adjourn Prince Harry and Meghan Markle's request for a postponement…

1 day ago