Milton’s net worth is down 86% since the stock of hydrogen-electric truck developer Nikola peaked last year. If found guilty of new civil and criminal charges, Milton could face hefty fines and disgorgement of ill-gotten gains.
... [+]new criminal and civil charges
from U.S. prosecutors, has lost roughly $7.6 billion in the last 13 months, due to the plummeting value of Nikola shares amid accusations of Milton lying to investors . Milton’s fortune has dropped from $8.7 billion at its height, in June 2020, to just $1.1 billion at the end of trading Thursday, according toestimates. That includes the 15% tumble in Nikola’s stock on Thursday as investors digested the federal government’s one-two punch: The U.S. Attorney's Office for the Southern District of New York brought three criminal charges against Milton, including two counts of securities fraud and one count of wire fraud.
Milton’s wealth peaked on June 9, 2020, when Nikola shares closed at a high of $79.73. The pre-revenue company briefly boasted a market capitalization of more than $30 billion, eclipsing that of Ford. The stock soon fell, but Milton’s $3.3 billion fortune as of late July 2020 was enough to land him onThat ranking would be short-lived. On September 10, 2020, short seller Hindenburg Research published an explosiveon Nikola, alleging Milton repeatedly lied about key aspects of Nikola’s business.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. charges Nikola founder Trevor Milton with lying to investorsTrevor Milton, the billionaire founder and former chief executive of Nikola Corp (NKLA.O), was criminally charged on Thursday with defrauding investors by lying to them about the electric- and hydrogen-powered truck maker.
Leer más »
Trevor Milton, founder of electric truck maker Nikola, charged with fraudNew York federal prosecutors charge Trevor Milton, the founder of electric truck company Nikola, with engaging in an audacious scheme to defraud investors, according to indictment.
Leer más »
Nikola Founder Trevor Milton Charged With Lying to InvestorsFederal prosecutors allege Mr. Milton took part in a scheme to defraud investors by getting them to purchase shares of Nikola by making false statements about the company’s product and technology development.
Leer más »
UPDATE: Nikola shares slide premarket on report Founder Trevor Milton indicted for making false claims to investorsTrevor Milton, founder of electric truck company Nikola Corp. undefined has been indicted on three counts of fraud by the U.S. Attorney's Office for the...
Leer más »
At Nikola briefing, SEC official declines to weigh in on Elon Musk's use of TwitterBut SEC Director of Enforcement Gurbir S. Grewal pledged to hold execs accountable for 'materially false statements.'
Leer más »
UPDATE: Nikola shares slide premarket on report Founder Trevor Milton indicted for making false claims to investorsTrevor Milton, founder of electric truck company Nikola Corp. undefined has been indicted on three counts of fraud by the U.S. Attorney's Office for the...
Leer más »