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Press Release

Notice To Victims Of The Sentencing Of Former Nikola Motors CEO Trevor Milton

For Immediate Release
U.S. Attorney's Office, Southern District of New York

The U.S. Attorney’s Office for the Southern District of New York is providing notice to individuals and entities that bought and sold stock of Nikola Corporation (ticker NKLA) or VectoIQ (tickers VTIQU, VTIQ, and VTIQW) between March and September 2020 of the upcoming sentencing of TREVOR MILTON, the founder and former CEO of Nikola.  In October 2022, MILTON was convicted by a jury of securities fraud and wire fraud in connection with his scheme to defraud and mislead investors about the development of products and technology by Nikola. 

The sentencing is scheduled for December 18, 2023, at 11:00 a.m. before the Honorable Edgardo Ramos in Courtroom 619 at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007.  The proceeding is open to the public.  MILTON faces a maximum term of 60 years in prison, and the sentence will be determined by the court.  If you believe you are a victim of TREVOR MILTON and have questions about the sentencing or wish to submit a victim impact statement, please email: USANYS.NIKOLAVICTIMS@USDOJ.GOV.

Updated December 14, 2023

Securities, Commodities, & Investment Fraud
Press Release Number: 23-430