“Over the course of many months, you used your considerable social media skills to tout your company in ways that were materially false,” the judge said, noting investors suffered heavy losses. “What you said over and over on different media outlets was wrong."
Before the sentence was handed down, Milton fought through tears in delivering a half-hour rambling statement portraying some of his actions as heroic at
He claimed that big companies in the industry have followed his lead to try to create vehicles that would leave a cleaner environment.
And he said he didn’t quit his company because of crimes but rather because his wife was dying.
Milton did not apologize directly to investors or anyone else, but he asked the judge to spare him from prison.
“I obviously feel awful for all the resources and time this has caused everybody. I don’t think you can feel human without feeling terrible for everyone involved,” he said. “My intent was not to harm others.”
Milton was convicted of fraud charges after prosecutors portrayed him as a con man after starting his company in a
Prosecutors said Milton falsely claimed to have built its own revolutionary truck that was actually a
Called as a government witness, Nikola’s CEO testified that Milton “was prone to exaggeration” in pitching his venture to investors.
At sentencing, Assistant
He said the crime had harmed a large number of people.
Defense attorney
He said it would be difficult for Milton to find another job and, for his client, “not being able to work is like not being able to breathe.”
As he left federal court Monday, Milton said he was confident that the appeal of his conviction will succeed.
“I think we're going to win it,” he said. “There are potential problems in the case which we outlined in the appeal. I think it’s going to be overturned.”
Milton resigned in 2020 amid reports of fraud that sent Nikola’s stock prices into a tailspin. Investors suffered heavy losses as reports questioned Milton’s claims that the company had already produced zero-emission 18-wheel trucks.
The company paid
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