Nikola Founder's Fraud Trial Over Electric-Truck Claims | WSJ Tech News Briefing
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- Опубліковано 7 вер 2024
- Trevor Milton, the founder of electric-truck company Nikola, is facing fraud charges in a New York court. Prosecutors allege he lied to investors about the company’s technology, but his lawyers call it a case of a founder voicing their hopes for the company. But the trial could have ramifications beyond Nikola and its founder.
WSJ reporter Ben Foldy joins host Zoe Thomas to lay out the issues and why it could matter for startups looking to go public.
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#Nikola #TrevorMilton #WSJ
![How to Lie Your Way to $34 Billion [Nikola Motors Fraud]](http://i.ytimg.com/vi/88fWUZhYb04/mqdefault.jpg)
![How to Lie Your Way to $34 Billion [Nikola Motors Fraud]](/img/tr.png)
Big Corporations would give billions of cash to people like him without any due diligence, but my banks would ask me mountains of paperwork just to get a loan LOL
This guy is about to trade a few years for billions of dollars. That is genius. 😉
a few years!
For people like him is totally worth it
You wouldn't say that if you were the Utah Ranch Owner who sold his Ranch To Mr. Milton in Exchange for Worthless Stock Options.
The People of this Land are conducting themselves like members of The Saudi Royal Family instead of AMERICANS WHICH IS A MORE NOBLE THING.
But in the 1.place: Why do stupid people with No brain invest in NKLA 🤯
NKLA is a iQ 🧠test!
@@cipreanosolis3545 lol loser farmer 😂🤣😂🤣😂🤣 should had seek out professional financial advice
Lock him up and take all of his money away and give it back to the investors!
What about the scum lawyers? Don't the scum lawyers get any money? The same scum lawyers that make the laws. The best result is the death penalty and make the law to where no lawyers get money first but before lawyers get any money, investors get their money back.
The money usually goes to creditors first. If Milton has spent money on 'stuff', that money is gone, you could only auction off any assets that draw interest. The investors usually are screwed. This whole climate crap is a hoax & hasn't been proven by the Scientific Method. So there's a whole bunch of Climate goody-goody's that'll throw their money away because they 'feel' it's for a good cause. Like the old adage goes: "A Fool & His Money are soon Parted."
That will happen any if he is found guilty..then a civil case against to recoup losses from the swindle.
@@mxferro Mayne the skum defense lawyers will give back the hundreds of millions they charge.
@@mxferromaybe lawyers will make a law saying they get no money from a case if a swindle is involved.
The Theranos of automobile.
My thoughts exactly.
Worse than Theranos because at least that girl just scammed some rich twits. This guy scammed retail and big public companies.
Total scam. Should claw back everything he made plus interest plus a hefty meaningful penalty to dissuade similar behavior in the future. Also the board and leadership.
There are already Laws for this kind of fraud, both criminal & tort. Milton is a Sociopath & a Narcissist. Some of the people he defrauded are knuckleheads who think this 'global warming' issue is a thing, but it's been going on for +60 years & nothing has come of it. Stop 'feeling', do your research!
Real investors know the risks involved
I just don't see this lawsuit as anything but a public soap opera. A hydrogen hit piece to stall the hydrogen tech from public market for as long as possible.
The truck was real, always was. Milton could have easily got the hydrogen fcev tech from German/ American aerospace, defense or private commercial industrial sector where the hydrogen tech has already been for 60+ years in full working order.
It makes zero sense he would have had to "roll" a truck down a hill unless it had to do with ip or patent rights to the fuel cell tech.
Everything Milton said was a embellishment at the time just like Musk does with tesla but as you can clearly see unless you've been under a rock and just have biased blinders on is that Nikola is executing extremely well now, pulling all the propulsion tech in house batteries and hydrogen. Building trucks, delivering and building out the hydrogen fueling station infrastructure. Milton still has a ton of ownership and will profit billions in the next few years as Nikola continues to execute. The new ceo is gonna be HUGE in terms of where the company is headed. The hydrogen tech is worth TRILLIONS and its a technology that was NEVER allowed to public markets for going on 100 years now.
I just don't see much of anything happening to Milton, it's a public soap opera.
As far as hyliion goes. Knowing what I know about the hydrogen tech. The karno generator tech is gonna be a multi trillion dollar technology by itself that can be used in many industries and applications. Electricity generation, heater technology and sophisticated forms of it is exactly how synthetic liquid hydrocarbon fuels are made. Hyliion could become an actual fuel refinery tech company too with the karno tech.
There is also a weird quantum nuclear side to the karno technology too that Healy didn't or won't mention.
I don't care who wins but understand this is more of a technology war than it is investor fraud. Everything Milton said the technology and company is capable of and looking like it's gonna be. Seems again more of a orchestrated scandal than anything serious.
He benefited so much for lying. He is still a billionaire, shame shame.
Put that fraud into jail. For life!
Mark Russel tho....
Make an example out of this SOB
Lock him up! Lock him up!
As to the Badger truck....
It is not uncommon to utilize EXISTING parts ,even parts by competitors , in creating a PROTOTYPE. Though you still want to minimize the components..not use primary proprietary designs in the MASS produced product. But usage of off the shelf parts is NOT deception if a prototype and NOT the primary reason for highlighting your product. You have to have a engineering testbed to help accelerate development. As I said NOT to use existing parts in mass production if you don't already have licensing with current competitor.
Trevor was too boastful and promising too much too far out. He should be severely punished and an example to any other "WOULD BE " con artists.
He used a GM truck on the commercials. With changing labels.
he invented the gravity engine
Trevor : the best Badger pick-up , is NO Badger
Its all Downhill from here, Trevor Fraud Meltdown Milton 🤣🤣
This is a great way to do a podcast. Illustrative videos along the talk 🙂
I can't believe electric cars 7s as far as we have advanced. Our ancestors built electric cars over 140 years ago
With batteries. There's the similarity & the crux. What are EV's good for, short commutes? Well if you can spend $40-$50K for a need like that, that's your choice. Can it help the environment...why, what's wrong? Nothing has been proven by the Scientific Method & it's been that way for +60 yrs. You want proof. How about former Prez. Obama buying a $6M mansion in Martha's Vineyard next to the Ocean, just a few feet higher then the waves. So if you think the threat of rising waters from warming is a concern...not to the Obama's. They should know...wouldn't you think?
In so far as an electric tram is an electric car.
Anyone knows the middle name of Nikola Tesla?? so I can patent it. Or what's his nickname?
when he brought horse carriage on stage then you should have known that not batteries but nature is the answer for energy needs
You mean having millions of horses pulling lorries all around the world?
Fraud monster,trevor!!
Interesting and informative. Thank you.
Trevor Fraud Meltdown Milton to PRISON 😂
How many thieves like this one had we had since Enron? Please this is not some bad apples this is a feature of the system most of our resources cannot be going to investment entities pursuing a unicorn. This is what is killing us we need the majority of money going to boring investments that create lots of value grow modestly and are resistant to market changes.
Now... is this guy and company like Preston Tucker ( see the same way things happen in his company especially with the SEC) in that he "genuinely intended to design and manufacture" a vehicle? Or did he drum up a big lie to puff up his pockets and try to get away from delivering a vehicle AS HE PROMISED? We shall see. The jury will decide. I believe he is a fraud but the way America law systems are set up... court might have to dismiss based on "technicalities."
any update about the trial? is Milton guilty or not?
Never trust an CEO or executive that wears brown shoes....never.
"Executives". That don't wear a business the...in charge of MULTI MILLION companies...don't trust.
Overall, everyone knew about the potential of hydrogen and we're hoping for a new Tesla and new Elon Musk. I wish they were successful BC of the potential of the technology they were exploring, but overall they were more marketing than anything
funny average elon musk hater here lol
There is NO potential until the infrastructure has proven itself. To many Climate Cultists & Enviro-Mentalists weren't looking deep enough & they threw their money away for the sake of a problem(global warming) that hasn't been proven by the Scientific Method. We should continue research on the climate but to throw money at a problem that hasn't been defined nor verified & validated is a Fool's Folly. Then to pass off EV's as a solution...to what? I have a great respect for the private/commercial consumer & they should be offered a variety of products that will suit their needs. Petrol, Hybrid, Diesel & EV. Keep the Govt. out of the product development, like the Biden regime pushing EV's. Let the market decide. The Earth is doing fine.
What happens if gold and oil ships sinks
@@syamkumarkaturi9761 They get wet...what's your question?
I just don't see this lawsuit as anything but a public soap opera. A hydrogen hit piece to stall the hydrogen tech from public market for as long as possible.
The truck was real, always was. Milton could have easily got the hydrogen fcev tech from German/ American aerospace, defense or private commercial industrial sector where the hydrogen tech has already been for 60+ years in full working order.
It makes zero sense he would have had to "roll" a truck down a hill unless it had to do with ip or patent rights to the fuel cell tech.
Everything Milton said was a embellishment at the time just like Musk does with tesla but as you can clearly see unless you've been under a rock and just have biased blinders on is that Nikola is executing extremely well now, pulling all the propulsion tech in house batteries and hydrogen. Building trucks, delivering and building out the hydrogen fueling station infrastructure. Milton still has a ton of ownership and will profit billions in the next few years as Nikola continues to execute. The new ceo is gonna be HUGE in terms of where the company is headed. The hydrogen tech is worth TRILLIONS and its a technology that was NEVER allowed to public markets for going on 100 years now.
I just don't see much of anything happening to Milton, it's a public soap opera.
As far as hyliion goes. Knowing what I know about the hydrogen tech. The karno generator tech is gonna be a multi trillion dollar technology by itself that can be used in many industries and applications. Electricity generation, heater technology and sophisticated forms of it is exactly how synthetic liquid hydrocarbon fuels are made. Hyliion could become an actual fuel refinery tech company too with the karno tech.
There is also a weird quantum nuclear side to the karno technology too that Healy didn't or won't mention.
I don't care who wins but understand this is more of a technology war than it is investor fraud. Everything Milton said the technology and company is capable of and looking like it's gonna be. Seems again more of a orchestrated scandal than anything serious.
wow ! great channel 👍️🖐️watching form Nepal
Trevor Fraud Meltdown is a real REAL professional liar and scammer 🤣
I wonder who would testify against Black rock? That is an awful organization.
Icari 👏👏👏👏
What happens if gold and oil ships sinks
lol... I still thought nikola is a beverage from cyberpunk 2077.
Taste the love!
wannabe elon
He thought he was going to put Tesla out of business. Almost everyone knew he was lying his ass off.
Come on…we all know that no one is going to prison and this is all a waste of taxpayer dollars
One Rule for Musk
Another Rule for Milton
Both Selling the Same Puff
América Rots in Protest
There is a vast difference between Tesla and Nikola.
Thks WSJ for🇮🇳 yur kind information n response updates news for everyone. May God bless WSJ in every step.. Go ahead.. Keep it more design wit Magnificent Technology for building up the Nation wide for the🇮🇳👍 Interest of human needs for International community.
⚠️How many $$$$ have you lost at Trevor's (hydrogen) scam now?? ⚠️
SDK blogger
Lol,
wew
So MUCH FUD!!!! GO Nikola...!!! FREE TREVOR!!!!!
Not guilty 😨 wat!!.so you saying the system is corrupt 😨 so basically money can buy anything 😨...
But not happiness,bad karma is coming.
Why not Tesla for its fake AutoPilot?
It will come! BUT it will take more time ro learn a computer to drive a car! . Human drivers kill 1,500,000 people on planet Earth every year. TESLA'S FDS will solve 99 % of the problem, if all cars + trucks have FSD..
#194👍😤😡🥂IPO greed run amok🤷
First
Have a look at Elon Musk too
He benefited so much for lying. He is still a billionaire, shame shame.
Mark Russel know Trevor Fraud Milton was lying...