Nikola founder faces fraud case over electric truck promises

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Trevor Miltonthe Nikola founder who seduced auto industry leaders and investors with his promise to revolutionize electric trucks is facing a securities fraud lawsuit this week over charges that he lied about his company’s development of eco-friendly technology.

Federal prosecutors in Manhattan last year charged Mr. Milton from running a plan to enrich himself and increase his status as an entrepreneur by falsely hyped Nikola’s prospects and defrauding retail investors, including new entrants to the stock market. He was charged on two counts of wire fraud and two counts of securities fraud. The jury selection starts on Monday.

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