September 24, 2021

The Pulse

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Trevor Milton Fraud Charge – E24

Prosecutor Nicola in New York is said to have brought the charges against the founder.

Exterior: Trevor Milton resigned as senior manager at Nicola in September last year.

Massimo Pinga / Reuters

Published:

The case is being updated.

Nicola’s founder Trevor Milton has been accused of making false statements to investors Bloomberg Thursday afternoon.

The former top manager is to be charged with fraud on three counts, he writes CNBC.

The allegation alleges that Milton misinterpreted investors about the company’s progress in the development of electric and hydrogen powered trucks.

Entrepreneurs are said to have misinformed investors between November 2019 and September 2020, Bloomberg writes. He is said to have been arrested and is now in custody.

Norwegian hydrogen company Paddy has long been a partner with truck manufacturer Nicola.

Paddy boss John Andre Luke has no comment on the allegation, but points out that Milton has long since left the company.

– Nicola develops more independently from him, he tells E24.

It was accused of defrauding small investors

I Indictment It seems that Milton with knowledge and will should target small investors. In addition to other media channels, Milton is said to have provided misleading and misleading information on social media targeting small investors.

Milton is said to have said:

Nicola was ready for the functional prototype version of the “Nicola One”, but be aware that Milton was not ready to run.

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Nicola: The former top manager made “false” statements

Crushing report

Hindenburg research came to light in September last year with serious allegations against Nicola and then-top manager Trevor Milton. He left the company a few days later.

And Nicholas Annual Report As acknowledged last year, the company acknowledged that the former CEO’s statements were “inaccurate”.

Although Nicola had to admit at the time that the statements were not entirely correct, there were several allegations from Hiltonberg that were not later confirmed by the company. Among other things, Nicola believes that the key claim that the company is a “complex fraud” is untrue.

Following the scandal, the company had to cut several projects. Among other things, the growth of the pickpocket Nicola Badger has been put on hold.

Read on E24 +

Nicola is definitely not dead. What about hexagon and paddy?

Paddy is a partner

Paddy, a Norwegian hydrogen company, has long been a partner with Nicola. Luke told E24 that when Milton’s departure was announced in September, he was notified that Nicola’s duties had been adjusted.

“Mark (editor Russell’s note) confirmed a few hours ago that Nicola’s strategy had not changed and that their” commitment “to paddy had not changed, regardless of any news, Luke told E24 at the time.

When presenting the paddy report in the first quarter, the company wrote that the two companies are pursuing a joint development plan for the development of hydrogen filling stations. At the same time, the company announced that “process and implementation have been delayed due to other Govt-19 related factors, including strategic reviews and travel restrictions.”

Correction: The original text stated that a “misinterpretation” had been imposed on Milton. This is then corrected to “misinformation”.

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