Nikola Agrees $125 Million Settlement For Defrauding Investors

“We are pleased to bring this chapter to a near as the corporation has now solved all federal government investigations,” the corporation said in a assertion. “We will go on to execute on our tactic and eyesight to supply on our business approach, which includes delivering trucks to customers, expanding our manufacturing amenities and our product sales and service community, and creating out our hydrogen infrastructure ecosystem which includes hydrogen production, distribution and dispensing stations.”

As aspect of the deal, Nikola did not admit to the SEC’s findings and it’s going to go on to cooperate with the agency’s ongoing investigation towards previous CEO and founder Trevor Milton. Milton, who has been billed with numerous fraud counts, is also personally contributing an undisclosed amount in direction of his previous company’s settlement fine.