Skip to comments.Prototype Nikola electric trucks were powered by hidden wall outlets, towed into position and hurtled down hills, prosecutors say – MarketWatch
Posted on 07/29/2021 6:59:57 PM PDT by Hojczyk
Trevor Milton, 39, is accused of claiming his company had successfully made working prototypes of electric trucks and vans that would have shaken up the industry, when he had, in fact, never built anything.
“Basically, it’s a very simple case: Milton told lies to generate popular demand for his actions,” said Audrey Strauss, the US prosecutor for the Southern District of New York.
prosecutors said Milton had for years exaggerated the technological developments made by the company, claiming that it had built working prototypes of its Nikola One truck and Badger pickup truck from parts that the company had made entirely by itself.
“ To make the prototype truck look like it was driving, it was towed to the top of a hill and then rolled all the way down, prosecutors said. “
Prosecutors said that in fact the prototypes that had been unveiled did not work and were Frankenstein monsters cobbled together from parts of other vehicles. At public events, vehicles were towed into position and were powered by plugs from hidden wall outlets.
Prosecutors said that during the initial period after Nikola began public trading, Milton’s shares rose in value by $ 7 billion. After it emerged, the company was investigated, shares plummeted, causing many retail investors to lose tens or even hundreds of thousands of dollars, prosecutors said. In some cases, some investors have lost a substantial portion of their retirement savings, they said.
(Excerpt) Read more at oltnews.com ...
Talk about the green new deal...this looks like a winner...the article is worth reading....talk about a scam...
SOUNDS LIKE A METAPHOR FOR THE 2020 BIDEN CAMPAIGN
Did they do one with an 18-wheeler?
Almost as big a scam as Theranos. Or Solyndra but nobody investigated that one.
I hear that there is a bidding war between CNN, the CDC, and the White House to hire him.
Seems like a lot of these big time scams a California based. Dims are easy marks.
Did anyone ping Kevmo?
Did they the right donations?
Was Terry McAuliffe on the board of directors? Probably not, or this guy’s electric vehicle scam would have worked.
I remem er a photographer mentioning a clever camera angle when these were first advertised. Someone came out and said, “Uh, that’s going downhill, guys.” when a photo came out, even though it looked like it was on flat land.
I pass by one of their corporate centers in Tempe regularly. I had no idea the operation was fraudulent.
Most of this was known about Nikola from the beginning - but the awesome market power of hopium kept it going far longer than it should have.
Was tbat wrong? Should I have done something different?
asked company p.r. guy Art Vandelay.
Norton Anti-virus blocked an attack from the link in the article.
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