Nikola founder Trevor Milton seeks new trial

Taking a web page from the playbook of federal prosecutors, convicted Nikola Corp. founder Trevor Milton is swamping the choose in his case with examples of social media posts in a bid for a brand new trial.

Prosecutors launched reams of social media posts and relied on taped podcasts and media interviews to determine a sample of mendacity in Milton’s four-week trial. His attorneys acquired permission to submit a 42-page submitting crammed with social media posts that Milton claimed confirmed bias in opposition to him.

Milton is making an attempt to indicate {that a} juror in his federal fraud trial lied about utilizing social media when she stated she had not. U.S. District Choose Edgardo Ramos admonished jurors throughout his pre-deliberation directions in opposition to posting concerning the case on social networks.

‘Riddled with assaults’

Twitter and Fb pages have been “riddled with assaults on rich executives” by the juror regardless of insistence throughout jury choice that she used social media, based on Reuters. Milton was value billions on paper when Nikola’s inventory worth reached greater than $90 a share in June 2020. Shares closed Friday at $2.42.

The jury discovered Milton responsible of mendacity to traders concerning the electric- and hydrogen-powered truck maker’s expertise beginning in November 2019. The jury convicted Milton on Oct. 14 of 1 rely of securities fraud and two counts of wire fraud. It acquitted him on a further rely of securities fraud.

Based on Bloomberg, Milton’s attorneys argued jurors mistakenly believed that to convict Milton of three of the 4 counts in opposition to him, they didn’t have to search out that he supposed to deceive traders, when the truth is they have been.

Milton faces sentencing on Jan. 27. His bid for a retrial and finally an enchantment of his conviction are routine and infrequently profitable protection ways. He’s free on $100 million bail secured partly by his 32-acre ranch in Utah.

Milton can also be in search of to have the wire fraud conviction associated to traders thrown out, claiming the federal government didn’t show its case.

Commentary: After bagging Milton, who will feds go after subsequent?

Nikola founder Trevor Milton responsible on 3 fraud counts

Nikola CEO says firm tried ‘intervention’ with Trevor Milton

Click on for extra FreightWaves articles by Alan Adler.

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