Trevor Milton, founder and former chairman of Nikola Corp., was handed down three federal fraud charges Thursday morning for his alleged involvement in misleading investors and retailers about Nikola’s true equipment capabilities.
On this episode of Freightonomics, Zach Strickland and Anthony Smith talk about what this means for Nikola as a whole and how it changes public perception of the company. They host Detrioit Bureau Chief Alan Adler, who provides some perspective on the situation.
Adler has covered the situation with Nikola in depth and has had firsthand looks at the company since it distanced itself from Milton last fall. Adler appeared on FreightWaves NOW with Kaylee Nix and Michael Vincent earlier in the day to discuss this situation as well, including what other OEMs can learn from Milton’s mistakes.