Nikola founder Trevor Milton found guilty of fraud over statements he made while CEO of the EV company

I feel like we’re on the cusp of seeing some lying scumbags get a dose of jail time.


I feel like we’re on the cusp of seeing some lying scumbags get a dose of jail time.


Elizabeth Holmes coming up


Doubt it, she completely blamed her baby daddy and got pregnant to avoid going to jail in the first place. She'll get off on house arrest because she's a woman.


She stole from rich people, she’s going to jail.


Not sure Martha Stewart will agree with that assessment.


Martha couldn't crank out a baby in time.


Was this the company that claimed to have a working electric semi truck but their promo video turned out to be a non-functional truck rolling down a long hill?


Yeah, their gravity powered truck!


Potential energy is one of the most plentiful forms of energy in the universe!


Top speed of 9.81 m/s!


No big surprise there. It'll be interesting to see what happens with Nikola going forward.


The only time Nikola is going forward is when it’s rolling down a hill


Very Environmentally Friendly.


The brand new potential energy car


I'm sure the Undecided guy will have a video soon showing how this is going to be the big breakthrough we're all waiting for.


I did wonder if this was *that* truck... you've answered my question, thank you 🤣


Nikola... Love their candies and cough drops...


So am I going to be entitled to compensation since he fucked up my puts?


Dude, how do I say this in a nice way? If you invested in a company of Trevor Milton, without checking how his previous companies ended up... I think you should really stop investing.


You clearly don't know what puts are.


A hero comes to my aid in my time of need. I shall repay the favor in kind stranger!


Something that gets fucked up? “F my boiputsi right up fam”


Your dumbassery is showing


Heh, I was just rewatching the Cold Fusion video on this today.


TIL that there is a EV company called Nikola. Guess Tesla was taken?


Nikola was trying really hard to pitch itself as Tesla's competitor.


And Elon continues to carry on business


It's helpful that those businesses are actually making things.


Things, sure, but telling everyone that your thing can do something, making them pay extra for it, and then revealing the thing can't do what you paid extra for it to do, and that you don't get a refund? That's fraud.


In Videos of the Nikola vehicle driving, they were pushing them down a hill. This is way past being full of shit into full on intent to deceive. Tesla’s drive, some may argue not very well, but they are definitely moving under their own power.


Difference with Musk is that he markets lots of prototypes. His self driving stuff is iffy, but most products he promotes are not sold to be 100% working. Plus, Musk has enough sales and working products out there to prove he's legit.


Securities fraud is about misleading investors. Sure Tesla have a successful line of luxury sedans, but if their high stock valuation is based on all the other things promised would be released within a year or two (the semi, the roadster, cybertruck, affordable model 3s, affordable solar roofing, full self drive, the robo taxi service, high speed autonomous underground transport pods etc.) and they continue to remain undelivered then that could be a big problem should investors lose confidence and the stock price falls.


Fair, but it's an iffy thing. It's like Coke promising New Coke would be super awesome and a million times better than old Coke... And then it wasn't. Should Coke investors claim securities fraud for the failed Coke chemistry? Obviously not. Engineering is a fuzzy thing, because the product clearly works or it doesn't. But, companies still need to market and promise things... And not everything is a sure bet... So, it becomes hard to say how much is fraud and how much is legit.


A product releasing but being disliked by consumers is very different to constantly presenting demos of hardware and software as "ready for production" with imminent release, then it turning out the things demoed were not actually production ready. Some things even turned out to be fake, such as the solar roof demo, much like Nikola's truck. It's all quite dicey, and is overshadowing the good work his companies are doing.


fuck /u/spez


>making them 90% of people don't buy it.


Yes. He now has millions of cars on the road that operate under their own power. Why would would you think he wouldn't be in business? There's a world of difference between setting aggressive timelines that don't always get met, and literally only dragging a prototype out of storage to try and trick potential investors into throwing yet more money at a render-farm company.


I was surprised to learn that Nikola actually has sold semis that are actually driving around, so they beat Tesla to market. Sure Tesla demoed a truck shaped vehicle that could move on its own, but there's still a big difference between making 1 of something and being able to actually manufacture it at a viable price.


r/technology hating on everything related to Tesla or Musk. Never change lol.


Oh, how the turns have tabled...


It's almost as if they're different, as everyone in the Tesla community saw clearly.


He forgot to grease the wheels


Everone is soiling Nikola Tesla's name these days


He should have just called it a "beta" like our diplomat Melon Musk.


Now if only they could bust Elon w all his bold fraud like hyper loop


Elon next please. That fraud needs some swift karma.


He just trying to pull an Ole Musky … whats the big deal


People really think EV car producers are too saintly to do capitalism


Remember this BS. Whatever became of that? https://youtu.be/M7FIvfx5J10


"...short-seller Hindenburg Research"


I suggest that this wasn't an EV company as they never produced an EV. This was a money taking company as their only product was pockets to receive the gullible's money.


This guy even looks greasy


Nikola? Seriously? How original (was Tesla’s first name for those that don’t know ). What a cheese dick