Post a Free Blog

Submit A Press Release

Thursday, March 28, 2024
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
-- Advertisement --spot_img
HomeBusinessNikola CEO   Indicted by the SEC sells 7M Shares and  ...

Nikola CEO   Indicted by the SEC sells 7M Shares and   transfers 600,000 Others

Former Executive Chairman of Nikola, Trevor Milton sold 7 million of his 79 million shares in the electric truck startup, Nikola last week, for  $71.5 million most likely for his legal battle for  federal fraud charges. The SEC is suing Milton for alleged violations of federal securities laws.

 

Milton hired two lawyers who defended Tesla CEO Elon Musk when he was in trouble with  the Securities and Exchange Commission.  However, charges against  Trevor Milton are more serious. Milton is   being charged criminally with two counts of securities fraud and one count of wire fraud on July 29, alleging  that he sought to manipulate the company’s stock price through false and over exaggerated  claims about the company’s technology and products.

 

Milton is out free on a $100 million bond put up by the 2,000-acre Utah ranch he purchased for $32.5 million in 2019. According to SEC filings, Milton transferred 600,000 shares to his spouse.

In a 10-Q filing, Nikola has sold just over 1 million of the shares to Tumim for $14.8 million. Nikola may sell shares to get the rest of the $300 million by the end of the year, Chief Financial Officer Kim Brady said on Nikola’s Q2 earnings call last Tuesday.

Image Miljøstiftelsen ZERO

Subscribe to get Latest News Updates

Latest News Articles

You may like more
more

Robinhood Gains 3 percent on Credit Card Launch Plans

Robinhood Markets (NASDAQ:HOOD) stock rose more than 3% intra-day...

Bloom Energy’s Price Target Cut at Susquehanna

Susquehanna analysts adjusted their price target for Bloom Energy...

Nio Shares Drops 6 percent Following Slashed Q1 Delivery Outlook

NIO (NYSE:NIO) shares fell more than 6% intra-day today...

nCino Shares Jump 19 percent Following Q4 Earnings

nCino (NASDAQ:NCNO) shares surged more than 19% intra-day today...