Posted:

July 30, 2021 16:20 GMT

Trevor Melton was arrested but after appearing in court he was released on $100 million bail.

The founder and former CEO of US electric and truck maker Nikola, Trevor Melton, was arrested Thursday and appeared in a New York court, where he has pleaded not guilty to three criminal charges of fraud against him. reach Reuters.

Prosecutors charged the billionaire with two counts stock fraud And another email scam. The CEO is accused of making false and misleading statements between November 2019 and September 2020 about Nikola’s product and technology development. The purpose of that data was Stock appreciation The company has become one of the 100 richest people in the world.

The US Securities and Exchange Commission has also brought other charges against Milton for its publication.False and misleading informationTrevor Melton, from quit In September 2020, as Nikola CEO and Board Member amid allegations of fraud, he was released after appearing in court with a 100 million guarantee of dollars.

Nicola’s company has stated that the judicial process is against its former CEO and not against the company. In addition, he confirmed that the company You cooperated in the investigations with the authorities. For his part, Milton’s defense rejected the accusations of fraud and asserted that the case responds to ” government efforts To criminalize legal business conduct, “therefore” all US CEOs must be intimidated. “