Trevor Milton, (C) founder and former-CEO of Nikola Corp., exits the Manhattan Federal Courthouse following an appearance in New York City, U.S., July 29, 2021. REUTERS/Eduardo MunozCompanies Nikola Corp FollowNEW YORK, June 22 (Reuters) - U.S. prosecutors on Wednesday added a new wire fraud charge to their criminal case accusing Trevor Milton, the founder and former chief executive of Nikola Corp (NKLA.O), of defrauding investors by lying about the electric- and hydrogen-powered truck maker. Milton previously pleaded not guilty to two counts of securities fraud and one count of wire fraud over statements he made from November 2019 to September 2020. Authorities have said Milton misled investors in social media posts, TV appearances and podcast interviews designed to drive up Nikola's stock price and bolster his stature as an entrepreneur. In December, Nikola agreed to pay $125 million to settle a related U.S. Securities and Exchange Commission civil fraud case.

Source: Forbes June 22, 2022 21:06 UTC