Nikola Founder Trevor Milton Gets Four Years for Fraud (Correct)

Nikola Corp. founder and former Chief Executive Officer Trevor Milton was ordered to spend four years behind bars for lying to shareholders about the electric-truck maker’s progress.

Milton, 41, was sentenced Monday by US District Judge Edgardo Ramos in Manhattan, more than a year after a jury convicted him of securities fraud and wire fraud for misrepresenting key details about the development of Nikola’s products and technology. He was also ordered to pay a $1 million fine.

Prosecutors had sought a sentence “in line” with the 11 years recommended by probation officials, saying a lengthy term of incarceration was needed ...