Milton was found guilty of fraud in October 2022
PHOENIX — A New York-based arbitration panel awarded Nikola Corp. $165 million in a proceeding with Trevor Milton, the Phoenix-based company’s founder and former executive chairman.
Nikola sought reimbursement from Milton for expenses and damages related to “actions that were the subject of government and regulatory investigations,” including a settlement with the U.S. Securities and Exchange Commission and associated civil penalty, according to a regulatory filing. based on allegations that he lied about the electric vehicle company’s technology and capabilities to inflate its stock price.
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