Nikola Founder Trevor Milton Guilty of Defrauding Investors (1)

Nikola Corp. founder Trevor Milton was convicted of fraud for misleading investors in the electric truck company, a stunning downfall for the door-to-door salesman turned billionaire who promised to revolutionize the auto industry.

Milton, 40, was found guilty Friday of one count of securities fraud and two counts of wire fraud by a federal jury in Manhattan, in a boost to the US Justice Department’s efforts to crack down on corporate crime. He was acquitted of a more serious securities fraud charge but still faces as many as 20 years in prison.

Read More: Milton Described as Serial Liar, ...