XPost: talk.politics.guns, alt.politics.libertarian, or.politics   
   XPost: sac.politics   
   From: ramon@conexus.net   
      
   In article    
   governor.swill@gmail.com wrote:   
   >   
   > Trump says that it is justly deserved.   
      
   Nikola scammed investors with video of non-functional truck   
   rolling down a hill   
      
   Once-booming electric truck manufacturer Nikola on Tuesday   
   agreed to pay a $125 million settlement to the Securities and   
   Exchange Commission over charges that it lied to investors, the   
   New York Post reported.   
      
   Company founder Trevor Milton "misled investors about, among   
   other things, Nikola's technological advancements, in-house   
   production capabilities, reservation book, and financial   
   outlook," the SEC said Tuesday.   
      
   Nikola had a whirlwind rise on Wall Street, with General Motors   
   in Sept. 2020 acquiring a $2 billion stake in the company. Its   
   success came crashing down that same month.   
      
   Milton, then the company's CEO, in Jan. 2018 posted to YouTube a   
   video of the "Nikola One Electric Semi Truck in motion."   
      
   "This thing fully functions and works, which is really   
   incredible," he said.   
      
   In reality, a bombshell Sept. 2020 Hindenburg Research report   
   found, the company had just let the far-from-functional truck   
   roll down a hill and tilted the camera to make the road appear   
   level.   
      
   Nikola a week later admitted that the truck did not "drive on   
   its own propulsion." It admitted in February that Milton had   
   made multiple "inaccurate" claims about the truck.   
      
   Under the $125 million SEC settlement, Nikola will not admit or   
   deny wrongdoing. Milton, who in Sept. 2020 resigned from the   
   company, has already been charged with fraud.   
      
   Published under: Green Energy, Nikola, Securities and Exchange   
   Commission   
      
   https://freebeacon.com/latest-news/electric-truck-company-to-pay-   
   125-million-settlement-for-misleading-investors/   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)