“He lied on Twitter, he lied on podcasts, he lied on TV interviews, he lied to Peter Hicks directly,” Assistant US Attorney Jordan Estes told the federal jury in Manhattan, referring to a real estate investor who accepted millions of dollars in Nikola stock options as partial. “Lie after lie after lie. His lies may have been on social media, but make no mistake, this was an old-fashioned fraud.”
Estes told the jury Milton’s lies were spread across clear categories: Nikola’s progress in hydrogen fuel, the status of the company’s Badger pickup, the functionality of its debut semi truck, the state of its order book and what he told the real estate investor.Milton, 40, was upbeat as he arrived at court in a navy suit and took a seat with his lawyers. There were at least two dozen people in the courtroom, with Milton’s family and friends packing the first two rows behind the defense table.
Milton is charged with two counts of securities fraud and two counts of wire fraud, in a case that comes as the US Justice Department works to crack down on corporate crime. He faces the possibility of years in prison if convicted. Prosecutors argue that he enticed individual investors to buy Nikola shares by making false statements about the company’s products and capabilities in numerous interviews on podcasts and TV.
Milton’s lawyers call the case a “prosecution by distortion,” contending that their client never meant to deceive potential investors and that, in any case, his statements weren’t material, or important enough to influence those investors’ decisions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Core US Inflation Rises to 40-Year High, Securing Big Fed HikeA closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out persistent inflation.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: IMF Warns ‘Worst is Yet to Come’ as Steps to Slow Inflation Raise RisksThe International Monetary Fund warned of a worsening outlook for the global economy, highlighting that efforts to manage the hottest inflation in decades may add to the damage from the war in Ukraine and China’s slowdown.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Coinbase Stock Rises After Adding Google Cloud PartnershipCoinbase Global Inc. entered into a partnership with Alphabet Inc.’s Google over cloud services, its latest corporate pact after prior accords with BlackRock Inc. and Meta Platforms Inc.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: China’s Electric Trucks May Well Pull Forward Peak Oil DemandElectric trucks are grabbing a lot of headlines lately. Elon Musk announced Tesla Semis will start shipping to PepsiCo in California. Volvo is delivering battery-powered big rigs to Amazon in Germany.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Biden calls Putin a ‘rational actor’ who ‘miscalculated’ with Ukraine warUS President Joe Biden said the his country has gamed out responses if Russian President Vladimir Putin uses a nuclear weapon in Ukraine. The US likes fighting battles on other people’s soils.. the Ukrainians are the one’s feeling the consequences, one will be forgiven for thinking this is Russia v Ukraine war, nah it’s pretty much clear where the “president” takes orders from The only game this Biden poephol knows is tiddlywinks
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Saudi Arabia will face ‘consequences’ for OPEC+ cutUS President Joe Biden said there would be “consequences” for Saudi Arabia over the decision by OPEC+ to slash production, a move the administration says will benefit Russia by propping up oil prices. The Western Dictates Other Countries How to Run the business.Biden is a🤡whats next sanctions against Saudi Dementia is really setting in now Biden should open up US oil production and he will not need to beg foreign governments for oil. Very strange policy
Source: dailymaverick - 🏆 3. / 84 Read more »