The founder of a well-known car company is in prison – his major fraud

An entrepreneur who wanted to become the next Elon Musk has been sentenced to prison and a hefty fine.

He was sentenced to four years in prison trevor Milton, One of the most controversial businessmen and the man who… was established Promising manufacturer electricity Commercial vehicles equipped with hydrogen cells Nicola.

Trevor Milton was sentenced to prison for her Systematically deceive and mislead investors For the company that would revolutionize road freight transportation for many, drawing comparisons to Elon Musk.

Milton was also fined Rs Million dollars He may later be required to hand over assets as part of his sentence.

“I didn’t mean to hurt anyone “I did not commit these crimes charged against me,” Melton told Judge Edgar Ramos before sentencing him. Prosecutors said the businessman showed no remorse for his actions.

The 41-year-old entrepreneur founded the startup in 2014, with the promise of building a company Pure electric truck with fuel cells Which would pose a challenge to the future Tesla truck.

It went public and through the sale of shares, its founder soon became one of The richest people in America.

But in 2022, one of the investors accused the company’s management of lying and… Falsifying results.

Research showed that Nikola wasn’t planning to create an electric truck from scratch, however Its parts were purchased from third partiesWith their logos covered in duct tape. Evidence was found that the company They created videos of their truckswhich was stacked to hide its defects, with the prototype vehicle showing its entirety, albeit with missing parts.

The aforementioned scandal led to Milton’s resignation, however Investigations continued. At first the plaintiffs requested 11 years imprisonment A fine was imposed 5 million dollarsOn the other hand, his lawyers demanded a suspended sentence. After all that He was sentenced to 4 years in prison.

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