Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks

Trevor Milton, the Nikola founder who enticed auto-industry leaders and traders along with his promise for a revolution in electrical vans, faces a securities-fraud trial starting this week on allegations that he lied about his firm’s improvement of environmentally pleasant expertise.

Federal prosecutors in Manhattan final 12 months accused Mr. Milton of operating a scheme to complement himself and increase his stature as an entrepreneur by falsely hyping Nikola’s prospects and duping nonprofessional traders, together with stock-market novices. He was indicted on two counts of wire fraud and two counts of securities fraud. Jury choice begins Monday.