Judge Orders Nikola Founder Not To Contact Investors Following Not Guilty Plea
Milton, 39, resigned from Nikola in September after allegations of fraud surfaced. But he doubled down, saying he would defend himself against accusations that Nikola made false claims about its vehicles. Investors included novices and people struggling financially during the pandemic. In an unsealed indictment in a Manhattan federal court, Milton was formally charged with securities and wire fraud. Milton was released on a $100 million bail after pleading not guilty, paid for by two Utah properties, Magistrate Judge Sarah Netburn ruled that Milton must not contact investors unless he had an independent relationship with them....