Trevor Milton's Nikola Case Dropped by SEC Following Trump Pardon
4 hours ago
- #SEC
- #Trevor Milton
- #Nikola
- SEC drops fraud case against Nikola's founder Trevor Milton following Trump's pardon.
- Trevor Milton received a presidential pardon in March, overturning a four-year prison sentence for securities fraud.
- Milton claims the SEC case was dropped 'with prejudice' and criticizes media and prosecutors.
- Nikola is undergoing Chapter 11 bankruptcy, with Milton seeking $69 million in legal fees from the company.
- Nikola disputes Milton's indemnification claim, citing 'grossly negligent' and 'bad faith' behavior during his tenure.
- Milton argues the bankruptcy plan doesn't account for his presidential pardon, which he claims proves his innocence.
- Creditors requested an investigation into whether Milton is dissipating assets that could cover his debt to Nikola.
- Milton resigned as CEO in 2020 after allegations of misrepresenting Nikola's technological capabilities.