Miton, who resigned as chairman from the company in September, was freed on a $100 million bond secured against two of his properties in Utah.
Nikola founder Trevor Milton pled not guilty to fraud charges in a Manhattan courtroom Thursday afternoon after federal prosecutors accused him of misleading investors about the capabilities and technologies of the electric vehicle start-up. Miton, who resigned as chairman in September, was freed on a $100 million bond secured against two of his Utah properties valued at $40 million. He is barred from contacting investors and was issued travel restrictions by the court. It was his first major appearance since resigning from the company and deleting his social media accounts. A federal grand jury charged Milton with three counts of criminal fraud for lying about « nearly all aspects of the business » to bolster stock sales of the electric vehicle start-up, according to an indictment unsealed Thursday.
