Nikola founder sells his company’s shares in a hurry

Nikola founder sells his company’s shares in a hurry


The sale follows another round of divestitures that Milton began in August this year. In total, since the end of the summer, the founder of the company has sold Nikola shares for about $ 184 million. Probably such a quick farewell to a share in a startup was caused by the initiation of a criminal case.

This was reported by RBC-Ukraine Auto with reference to Bloomberg.

Milton is accused of misleading investors and making false statements on many aspects of Nikola’s business. Milton stepped down as CEO in September 2020. The US Department of Justice investigated and Milton was later charged with fraud.

Prosecutors allege that, among other things, when Milton tweeted that a Badger pickup with a hydrogen engine would produce potable water and its own windshield washer fluid, he did not consult with company engineers.

Earlier this month, Nikola said it would be forced to pay the US government a $ 125 million fine for deliberately lying by their leader earlier.

Recall that a new crossover Suzuki SX4 was presented earlier. In Ukraine, this model is sold under the name SX4.

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